Stocks plunge over North Korea tensions

12 August, 2017, 22:29 | Author: Leticia Walters
  • North Korea

Late in the afternoon, Trump told reporters that his "fire and fury" warning to North Korea may not have been tough enough.

The remarks followed a new report asserting that USA intelligence has assessed that Pyongyang has successfully produced a nuclear warhead that can fit inside its missiles.

The Korean won continued to fall versus the dollar, down 0.13 per cent to 1,143.5 on Friday for a 1.6 per cent decline on the week.

"If the data continues to come in on the softer side, the market might start to price the Fed staying on hold this year", said Sireen Harajli, FX strategist at Mizuho in NY.

About 15 minutes into trading, the Dow Jones Industrial Average had dropped to 21,947.15, down 0.5 percent from Wednesday's close, falling back below the 22,000 mark it first broke through on August 2.

Bond prices were little changed.

Benchmark 10-year notes last rose 5/32 in price to yield 2.194 percent, from 2.211 percent late on Thursday.

Travel website operator Priceline fell 7.26 percent, weighing the most on the S&P and the Nasdaq, following a disappointing forecast. The stock fell $3.30 to $30.09.

Retailers Wal-Mart (WMT), Home Depot (HD), Target (TGT), Staples (SPLS), and Gap (GPS) are also among the companies due to report their quarterly results next week.

Biotechnology, tobacco, and transportation stocks also saw considerable strength, while steel stocks extended a recent move to the downside.

The Labor Department also said unit labour costs rose by 0.6% in the second quarter following an upwardly revised 5.4% spike in the first quarter.

Away from geopolitics, Graham Bishop, investment director at Heartwood Investment Management, said price action overall has been muted when companies have beat estimates in the latest reporting period, but then "altogether painful" when they miss. The stock was the biggest gainer in the S&P 500, adding $8.02 to $45.25.

Overall, the healthcare sector slumped 3.4 percent.

Materials, a sector that includes gold producers and other resource-based companies, was the lone gainer among the index's 10 main sectors, rising 0.7 percent.

The Canadian dollar was trading at 78.64 cents U.S., down from an average price of 78.71 cents United States on Wednesday. Heating oil fell 1 cent to $1.63 a gallon. On the Nasdaq, 2,303 issues fell and 567 advanced. Silver gained 14 cents to $16.39 an ounce.

US crude oil tumbled 2% to $48.59/bbl, failing to hold above $50 as a report from OPEC showed crude production among the group's members rose in July.

Ongoing global glut concerns lingered in oil markets despite a bigger-than-expected draw in USA crude inventories. The euro slid to $1.1752 from $1.1793.

Sterling was last trading at $1.3009, up 0.27 percent on the day. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.13 percent higher, while Japan's Nikkei .N225 lost 0.30 percent. South Korea's Kospi fell 0.2 percent.

Recommended:

  • Phillies' Rhys Hoskins to hit cleanup on Friday

    Phillies' Rhys Hoskins to hit cleanup on Friday

    Notable: Odubel Herrera hit his 35 double of the season in the first inning for his 50th extra-base hit this season. Hansel Robles (7-3) got the final two outs in the eighth and AJ Ramos finished for his 22nd save in 24 chances.
    Woman killed in Poonch Pak ceasefire violation

    Woman killed in Poonch Pak ceasefire violation

    Jammu: An army jawan was killed as Pakistani troops resorted to unprovoked firing on Indian posts along the line of control ( LoC ) in Krishna Ghati sector in Poonch district of Jammu and Kashmir Saturday evening, a defence spokesman said.

    Brighton v Manchester City - How do the teams compare?

    Former England and Newcastle striker Shearer is tipping Manchester United to win the Premier League title for the first time since 2013.
  • Arsenal edge past Leicester in Premier League season opener

    Arsenal edge past Leicester in Premier League season opener

    During most of the game , the team's defence left much to be desired - that Vardy managed get past six defenders to score his second goal is testament to that.
    Man suspected of pushing woman into oncoming traffic during run claims innocence

    Man suspected of pushing woman into oncoming traffic during run claims innocence

    A following bus was forced to swerve out of the way, narrowly avoiding the 33-year-old woman as she fell backwards into its path. Police said the man was arrested at a property in the Chelsea area, taken to a south London station and later released.

    Brighton vs Manchester City

    " Hopefully, next season I'll be here, and now we're not going to spend how we have spent this season I assure you that ". He added: "We played four games, one with four at the back and the last three with three at the back".
  • Guam Gov: Trump's 'Hell and Fury' Justified If NK Attacks

    Guam Gov: Trump's 'Hell and Fury' Justified If NK Attacks

    On Wednesday, Mr Trump followed up his "fire and fury" warning with a boast about USA nuclear capabilities. Nothing says "vacation" like the threat of nuclear annihilation, at least according to President Trump.
    Arsenal score two late goals for comeback win vs. Leicester City

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

    We're in a society now where we are encouraged to throw away the old and buy the new thing which will make you happy and solve your issues.

    Liberty Global PLC (LBTYA) Receives Consensus Recommendation of "Buy" from Brokerages

    In Services sector, Liberty Global plc ( LBTYA ) holds floating shares of 959.64 million and 959.64 million outstanding shares. News stories about Liberty Global PLC (NASDAQ:LBTYK) have been trending somewhat positive this week, Accern Sentiment reports.
  • Late goal gives Arsenal EPL thriller win

    Late goal gives Arsenal EPL thriller win

    Wenger also stated that lack of focus on the part of his defenders cost Arsenal the first two goals they conceded. Asked about Arsenal's title chances, Wenger said: "There are six or seven teams who can win the league.
    European markets open lower on Friday

    European markets open lower on Friday

    Earlier on Thursday, North Korea revealed a plan to launch ballistic missiles toward a major US military hub in the Pacific. ET (1434 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 70.95 points, or 0.47 percent, to 15,146.38.
    Tillerson Urges Calm as Trump Trades Escalating Threats With North Korea

    Tillerson Urges Calm as Trump Trades Escalating Threats With North Korea

    North Korea responded by claiming it is preparing a plan to fire missiles at the USA territory of Guam in the western Pacific. " President Trump's threat to rain down "fire and fury" on North Korea is like pouring gasoline on a fire", Humphrey wrote.


Popular

Crystal Palace manager Frank de Boer rues 'false start' from his side
"We worked all day during pre-season, we worked hard and the coach gave a us a lot of advice". It was far from the ideal Premier League debut for Crystal Palace manager Frank de Boer .

Five attempts to stop PDP convention failed - Makarfi
The delegates agreed that the crises in the states should be resolved within the period but prior to the congresses. Thank you distinguished party men and women, ladies and gentle men for your time and attention.

Pubs warned to check eggs as Fipronil contamination scandal worsens
Authorities there say they have seized, and plan to incinerate, a ton of contaminated liquid egg yolk imported from Germany. Around 700, 000 potentially contaminated eggs have been distributed throughout the United Kingdom , it has been revealed.

LG reportedly working on V30 Plus smartphone
Samsung is expected to take the wraps off its Galaxy Note 8 smartphone on August 23 at the company's "Unpacked" event. When Apple and Samsung add "Plus" to the name of the smartphone , they mean that the version of the device is larger.

Pentagon denies civilians killed in Afghanistan airstrike
In June, at least three Afghan border police officers were killed in United States airstrikes in Helmand province. North Atlantic Treaty Organisation said they were unable to provide any information when ed by AFP.