Stocks Fall for Third Straight Day as North Korea Tensions Percolate

12 August, 2017, 21:53 | Author: Terri Saunders
  • Ready... aim

President Donald Trump warned North Korea, saying that any provocation and threats "will be met with fire and fury".

The S&P 500 index had its biggest one-day drop in nearly three months on Thursday as investors fled riskier assets, with technology stocks leading the charge, in response to an increasingly aggressive exchange of threats between the United States and North Korea.

Hong Kong shed more than one percent and Shanghai also closed lower, while Seoul shares continued their sell-off after slumping Wednesday, with the won again softening.

Chinese stocks seemed little affected though, and Australian stocks rose Wednesday after a weaker Tuesday amid strong earnings reports from big banks.

The European and American dips followed similar trading in Asia, where equities also were back in the red, snuffing out a nascent recovery. "But overall, we do not think long-only investors will pay too much attention in the short term with the focus being more from shorter-term traders".

Dai-ichi Life Holdings dropped 1 percent, T&D Holdings fell 2.2 percent while Mitsubishi UFJ Financial Group declined 0.9 percent. The greenback was down 1.1 against the franc, its worst drop in more than six weeks.

Trump further ratcheted up the rhetoric in remarks this afternoon, suggesting that his "fire and fury" comments may not have been tough enough.

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.


A spokesman for the Korean People's Army said in a statement on Wednesday it was "carefully examining" plans for a missile attack on the U.S. Pacific territory of Guam, which has a large U.S. military base.

Investors reacted by driving up the price of gold and bonds, traditional safe investments.

The Dow Jones Industrial Average fell 94.55 points, or 0.43 percent, to 21,954.15, the S&P 500 lost 19.51 points, or 0.79 percent, to 2,454.51 and the Nasdaq Composite dropped 76.39 points, or 1.2 percent, to 6,275.94.

The dollar index .DXY , which measures the US currency against a basket of other major currencies, fell 0.14 percent. The Russell 2000 index gave up 1.7 percent to 1,372.54.

However, shares of Dean Foods tumbled, trading 20.1 per cent weaker at US$11.96 as of 2.24pm in NY, after the USA dairy processor posted quarterly results that fell short of expectations and downgraded its full-year forecast amid "a challenging and rapidly evolving retail environment".

ENERGY: Benchmark U.S. crude gained 1 cent to $49.57 a barrel in electronic trading on the New York Mercantile Exchange. The Shanghai Composite slipped 0.4 percent to 3,261.75. Brent crude, the global standard, lost 28 cents to $52.09 a barrel in London.

Recommended:

  • 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.
    Real Madrid beats Manchester United to win Super Cup

    Real Madrid beats Manchester United to win Super Cup

    I keep saying that. "And I think we're going to reach that level as a football team in the next couple of years". Yet United's starting XI cost €417 million (S$667 million), compared to Real's €273 million.

    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.
  • Jefferies Group Analysts Increase Earnings Estimates for Kinross Gold Co

    On average, equities analysts anticipate that Kinross Gold Corporation will post $0.09 earnings per share for the current year. Contrarius Investment Management Ltd boosted its position in shares of Kinross Gold Corporation by 4.0% in the second quarter.
    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 .
    If North Korea attacks USA , it 'will regret it fast'

    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.
  • Jamie Carragher delivers shock verdict on Antonio Conte future at Chelsea

    Jamie Carragher delivers shock verdict on Antonio Conte future at Chelsea

    "I'd be very surprised if I'm sitting here in 12 months" time and he's the Chelsea manager, ' Carragher told Sky Sports . Jamie Carragher believes that Chelsea manager Antonio Conte will leave the club within the next 12 months.

    The Duke Energy Corporation (DUK) Receives "Hold" Rating from BMO Capital Markets

    BidaskClub lowered shares of Duke Energy Corporation from a hold rating to a sell rating in a report on Thursday, July 6th. Shares of DRE have uptrended 3.08% in the past three months, while the S&P 500 has moved -2.39% in that time.
    629 ft. cargo ship runs aground, closes St Marys River

    629 ft. cargo ship runs aground, closes St Marys River

    Contracted divers conducted an initial assessment of the vessel's stern and determined that it is structurally sound. Stateside's conversation with Lieutenant Junior Grade Sean Murphy of the United States Coast Guard.
  • Se la Corea del Nord attacca Guam se ne pentirà amaramente

    Se la Corea del Nord attacca Guam se ne pentirà amaramente

    GLI SCENARI - Se la Corea del Nord dovesse lancia un attacco di minaccia agli Stati Uniti , la Cina dovrebbe rimanere neutrale. Ma l'escalation di tensione preoccupa la Russian Federation , che ha deciso di rafforzare i sistemi anti-aerei a Est.
    Craig Shakespeare expects Danny Drinkwater to stay at Leicester this summer

    Craig Shakespeare expects Danny Drinkwater to stay at Leicester this summer

    However, Shakespeare believes the midfielder, a product of United's academy, will remain at the King Power Stadium this summer. I have always answered this question, not only once but twice, three times'.
    'Jersey Shore' Cast Reunite For E! Docuseries

    '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.


Popular

Mapped: US and Allied Missile Defenses Against North Korea
Postol during an interview with Newsweek called the missiles "a hoax", although Friday's report doesn't use that language. He is right: This time, North Korea has detailed plans for a missile test that would land in the waters near Guam.

Stock markets slip as North Korea tensions build
The data comes amid tepid inflation that has remained below the Federal Reserve's 2 percent target, despite low unemployment. The Dow and S&P 500 inched higher on the day but they both posted their largest weekly percentage drops since late March.

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.

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".

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.

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.

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.

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.

Everton v Stoke: Premier League preview, line-ups & predictions
Everton are ready to do their talking on the pitch after a summer in which they have made the size of their ambitions clear.

S&P falls 1.4 pct in safety flight on N. Korea tensions
The U.S. dollar was down 0.3% at 110.01 yen which hurt the share prices of motor-vehicle makers, technology companies and banks. When Iraq invaded Kuwait 27 years ago this month, the S&P 500 fell 1.1 percent, and was down 9.3 percent 20 days later.