Stock markets slip as North Korea tensions build

12 August, 2017, 21:42 | Author: Terri Saunders

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.

Sindh CM seeks permission for state funeral for Ruth Pfau
Mark Lobel at the BBC reports that's when she saw leprosy up close for the first time and decided that would be her life's work. She also authored several books about her experiences, including To Light A Candle , which has been translated into English.


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.

Recommended:

  • Fundamentals in Focus for Healthcare Realty Trust Incorporated (HR)

    Fundamentals in Focus for Healthcare Realty Trust Incorporated (HR)

    UBS AG lowered Physicians Realty Trust from a strong-buy rating to an outperform rating in a research report on Monday, July 17th. BidaskClub upgraded Physicians Realty Trust from a hold rating to a buy rating in a research note on Friday, June 23rd.
    CNN's Zakaria: Trump North Korea Threats 'The Art of the Bluff'

    CNN's Zakaria: Trump North Korea Threats 'The Art of the Bluff'

    BEN CARDIN: No, I don't think we accept North Korea having a nuclear weapon capacity that violates worldwide protocols. We obviously reiterate or welcome that commitment to peaceful diplomatic and political solution to the situation .

    Giroud header seals Arsenal win

    Shakespeare was true to his word and started Riyad Mahrez despite the Algeria worldwide asking to leave the King Power Stadium. Danny Welbeck levelled for Arsenal , but Vardy's second goal looked to have won it for Leicester until the sensational finale.
  • New faces on the Premier League merry-go-round

    New faces on the Premier League merry-go-round

    Another pointer towards a low-scoring affair perhaps is the absence of Eden Hazard who will miss the game with an ankle injury. However, the 24-year-old expects more of the same to come his way during the season due to his price tag.

    Stephen Colbert Speaks for the Planet After Trump's Demented North Korea Threats

    Yun and North Korean diplomat Pak Song II negotiated the release of imprisoned American college student Otto Warmbier in June. The early United States focus was on securing the release of several Americans held in North Korea.

    'Never sell him' - Arsenal fans react to display of substitute against Leicester

    A predictable Arsenal implosion followed, with Shinji Okazaki and Jamie Vardy putting Leicester in front. We encourage our midfield players to play balls in behind.
  • Roberto Aguayo cut by Buccaneers following rough preseason game

    Roberto Aguayo cut by Buccaneers following rough preseason game

    As expected, Koetter wasn't happy with Aguayo's missed kicks on Friday and made it very evident following the team's 24-12 loss. The Bucs traded up into the second round to draft Aguayo after he was an All-American kicker at Florida State.
    Jamie Carragher and Jamie Redknapp get into argument over Virgil van Dijk

    Jamie Carragher and Jamie Redknapp get into argument over Virgil van Dijk

    What are they looking at? "You think about where you were week last season, set pieces, getting done on the counter attack". That first half was like Liverpool at their worst last season so then you've had a pre-season and nothing's changing.
    Arsenal score two late goals for comeback win vs. Leicester City

    Arsenal score two late goals for comeback win vs. Leicester City

    Although Danny Welbeck leveled on the stroke of halftime, Vardy restored Leicester's lead after the break. They all deserve to play. "He is a fantastic guy as well - committed, he loves the club".
  • 700000 insecticide-tainted eggs imported to United Kingdom  - gov't

    700000 insecticide-tainted eggs imported to United Kingdom - gov't

    Millions of eggs have been pulled from European supermarkets in the past week after an outbreak of the insecticide Fipronil . Products will be withdrawn due to the chemical's unauthorized status, rather than a specific safety concern.
    Pakistan again violates ceasefire in Poonch, one jawan martyred

    Pakistan again violates ceasefire in Poonch, one jawan martyred

    A lady was killed when Pakistan damaged truce in Jammu and Kashmir's Mendhar part at 5:30 am on Saturday. She was standing in front of her house when the splinters hit her.
    Solar spectacles needed for safe viewing of eclipse

    Solar spectacles needed for safe viewing of eclipse

    On Aug. 21, the greater part of North America will experience a solar eclipse , when the moon blocks the sun from Earth's view. August 21 over Washington County in western Idaho and move east, exiting the state around 12:48 p.m. over Teton County.


Popular

Trump tells Calvo he's behind Guam "1000%"
Referring to an "imminent missile threat", it includes advice like: "Do not look at the flash or fireball - it can blind you". The president called the USA military "incredible, "rock solid" and "the best in the world by a factor of five".

PCB chairman in Sri Lanka to attend ACC meeting
ESPN said that Pakistan are also set to travel to the UAE from September 21 for a full series against Sri Lanka. However, the final call over the World XI matches is expected to be taken by the government.

Michael Carrick expects Premier League title challenge from Manchester United
The first week of the season is always one of the hardest to predict, but our writers have a lot of confidence in the top six. The Spanish manager believes the signings were needed to freshen up an ageing squad ahead of the new season.

Hewlett Packard Enterprise Company (HPE) EVP Sells 15333 Shares of Stock
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link . The company's shares were given away at $17.45 per share worth to an income of some $2,415,097 on account of WHITMAN MARGARET C.

If North Korea attacks USA , it 'will regret it fast'
But he says that, until that happens, the United States "will be the most powerful nuclear nation on earth, by far". Navy aircraft carrier strike group or Marine Corps Expeditionary Unit off the Korean Peninsula right now.

Giroud wants to stay and fight for his place, claims Wenger
Arsenal , meanwhile, have not won their first Premier League game of the season at the Emirates in three of the past four years. The Gunners are at the top of the table and thank the football gods the Premier League is back.

'Jersey Shore' Cast Reunite For E! Docuseries
In the clip, The Situation describes Pauly D as his former "boy in the house", but laments that they haven't spoken in five years. He also sports his famous "motorcycle-proof" hair even if he tries to wear more sensible hairstyles during the past five years.

Samsung Gear Sport smartwatch tipped by FCC entry
It could be a hybrid between Samsung's Gear S3 and Gear Fit 2 that aims to serve the goal of both a smartwatch and fitness band. The device was spotted visiting the FCC with features such as Wi-Fi and Bluetooth support but the other details remain unknown.

North Korea says no negotiations over its nukes
And Trump's previous notion that China could simply solve this problem for everyone is magical thinking. "Not even close. They eventually agreed to measures that the US says will cost North Korea more than a billion dollars each year.

August 21 solar eclipse requires safe viewing
Pilots should also check NOTAMs carefully for possible TFRs and other events that could affect planned flights around August 21. Where can the solar eclipse be seen? There are several viewing parties planned here for the community and tourists.