Stock markets slip as North Korea tensions build

12 August, 2017, 21:42 | Author: Terri Saunders
  • Stock markets slip as North Korea tensions build

On Thursday, the three major USA indexes logged their worst performances since mid-May (http://www.marketwatch.com/story/us-stocks-set-up-for-another-day-of-losses-as-north-korean-tensions-simmer-2017-08-10) in a session dogged by geopolitical concerns.

In 3.16pm trading in NY, the Dow Jones Industrial Average fell 0.3 percent, while the Nasdaq Composite Index declined 0.5 percent.

The Dow and S&P 500 inched higher on the day but they both posted their largest weekly percentage drops since late March.

Nasdaq 100 e-minis were down 17 points, or 0.29 percent, on volume of 36,232 contracts.

North Korea said it was considering plans to fire missiles at Guam, a US -held Pacific island, after President Trump's warning on Tuesday.

"As a portfolio manager, you say, 'Do I think we'll get a war out of this?' " said Torsten Slok, chief global economist at Deutsche Bank, referring to the bluster between North Korea and President Donald Trump.

Six out of the S&P 500's 11 major sectors closed positive on August 9.

The Russian dollar-traded index RTS was down 1.49 percent, and ruble-traded MICEX fell 1.29 percent by midday.

The data comes amid tepid inflation that has remained below the Federal Reserve's 2 percent target, despite low unemployment.

Denis Shapovalov says he doesn't remember taking that photo with Rafael Nadal
Haase will face the victor between second-seeded Roger Federer and Roberto Bautista Agut in the semifinals on Saturday. Mannarino defeated Hyeon Chung of South Korea 6-3, 6-3.


After touching a more than two-month high at $1,291.86, spot gold last added 0.2 percent to $1,288.81 an ounce.

"This acquisition and the launch of our direct-to-consumer services mark an entirely new growth strategy for the company, one that takes advantage of the incredible opportunity that changing technology provides us to leverage the strength of our great brands", Iger noted.

David Madden, market analyst at CMC Markets, said: "Stock markets in Europe are still feeling the pressure from the tension surrounding North Korea". The slide deepened after Trump's remarks on North Korea aired.

Nevsun Resources Ltd offset some of the material group's gains, plunging 16.4 percent to C$2.75 after the company reported disappointing quarterly results.

Office Depot tumbled 22.4 percent after the office supplies retailer's quarterly results came in below estimates.

OIL: Benchmark U.S. crude lost 24 cents to $48.37 per barrel on the on the New York Mercantile Exchange while Brent crude, used to price worldwide oils, declined 20 cents to $51.70 per barrel in London. On the Nasdaq, 1,846 issues fell and 953 advanced favoring decliners.

Benchmark US 10-year notes last rose 6/32 in price to yield 2.1905 per cent, from 2.211 per cent late on Thursday.

CURRENCIES: The euro slipped 0.1 percent to $1.1176 while the dollar was steady at 109.20 yen.

"The escalation of the geopolitical situation between the US and North Korea is beginning to rattle investors' nerves as was witnessed in the VIX index yesterday", said Peter Cardillo, chief market economist at First Standard Financial.

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