Stocks Claw Back Gains but North Korea Keeps Pressure on
14 August, 2017, 07:12 | Author: Leticia Walters
United States equities dipped the most in May as tensions between the U.S. and North Korea persisted. European stocks (http://www.marketwatch.com/story/european-stocks-fall-as-caution-over-geopolitical-tensions-linger-2017-08-10) were also in the red.
"Of course, it's all come at a time when share markets are due for a correction, so North Korea has provided a flawless trigger".
The company also raised its annual dividend forecast to 25 yen from 20 yen per share. Utilities eked out a small gain. Traders would require nerves of steel to starting buying into the stock market now, given standoff between the United States and North Korea. "As long as it doesn't go beyond just a war of words, this is going to be short-lived". The Nasdaq composite lost 0.3 percent to 6,352.33. MSCI's broadest index of Asia-Pacific shares outside Japan closed 1.48 percent lower.
The index was down by 1.44% or 108.12 points to close at 7389.94 on Thursday in its worst performance for four months.
The overall financials group, which accounts for roughly a third of the index slipped 0.9 percent. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped by 2.3 basis points to 2.189%.
Wall Street got off to a downbeat start early Thursday as tensions between the USA and North Korea continued to escalate, rattling markets overseas. The remarks, following North Korea's earlier revelation of a plan to launch a salvo of ballistic missiles toward the U.S. Pacific territory of Guam, gave investors a reason to pocket profit in the sectors, such as technology, that have been the biggest gainers in recent months, analysts said. US President Donald Trump added to the heat by tweeting that "Military solutions are now fully in place, locked and loaded, should North Korea act unwisely".
The CBOE Volatility Index, the most widely followed barometer of expected near-term USA stock market volatility, hit its highest mark since November 8, when Trump was elected president. That's the biggest increase since May.
Strong earnings this season have helped bolster global markets, and the economy should grow in the second half of the year, said William Delwiche, managing director and investment strategist at Baird.
The market was waiting for USA consumer inflation data on Friday that would offer more clues about future Fed decisions. "I don't see it as a fear-driven sell-off". Wall Street was poised for a soft opening with S&P futures and Dow futures both down 0.2 percent.
Investors retreated from several of this year's winners on Thursday, including shares of large US technology companies and biotechnology firms.
Major stock indexes overseas didn't fare any better. Data from the respected National Institute of Economic and Social Research, also released Thursday, estimated that UK GDP in the three months to July grew by just 0.2% quarter/quarter, down from 0.3% growth in Q2.
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The Dow Jones industrial average slid 204.69 points, or 0.9 percent, to 21,844.01, just shy of its low point for the day. After a dip of as much as 0.52 percent earlier in the day, Wall Street's three major indexes bounced off intraday lows.
Mr Pompeo declined to say how long it will be before North Korea could carry out such a nuclear attack on the U.S. mainland. Mike Pompeo says Pyongyang is moving at an "ever alarming rate" with its weapons program.
TSX falls as North Korea tensions spur flight to safety
President insists on ramping up the war of words, there is a decreasing chance of any diplomatic solution", Carnell said. The Korean won also continued to skid, sliding 0.4 percent to 1,146.2, below its 200-day moving average. "While the U.S.