TSX falls as North Korea tensions spur flight to safety

14 August, 2017, 07:10 | Author: Leticia Walters

Pacific territory of Guam, which has a large US military base.

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. President insists on ramping up the war of words, there is a decreasing chance of any diplomatic solution", Carnell said. These have ranged from an investigation into Russia's possible interference in the 2016 USA presidential election, to concerns about China's risky debt levels, to stubbornly low inflation in the U.S.

Small-company stocks fell more than the rest of the market Wednesday. The index closed at 16.04 overnight, the highest level since November 8, when Trump was elected president.

Trump's remarks on Tuesday that North Korea would face "fire and fury like the world has never seen" weighed on Wall Street and drove up the VIX "fear gauge", or the cost of protection against a drop in the S&P 500. USA -traded Nikkei futures fell 2 percent to their lowest since mid-May.

The Australian dollar, which rose to a 19-month high near 90.00 yen late in July, was down 0.6 percent at 86.77 yen after slipping to a one-month low of 86.23 yen.

The yen is often sought in times of geopolitical tension, partly because Japan has a big current account surplus.

Weaker U.S. Treasury yields also helped the yen, boosting its appeal relative to the greenback.

The euro was 0.14 percent higher against the dollar.

THE QUOTE: "Risk-averse sentiment is dominating global equities markets, and US indices have retraced from record levels over the last two days". The yield on the benchmark 10-year Treasury fell as low as 2.197 percent, its lowest level since June 28, before inching back to 2.201 percent.

Elsewhere in commodities, the September crude contract was up 39 cents to US$49.56 per barrel, September natural gas advanced six cents at US$2.88 per mmBTU and the September copper contract declined two cents at US$2.93 a pound.

The dollar pulled back 0.1 percent to $0.9635 Swiss francs on Friday, after dropping as much as 1.2 percent to a two-week low overnight. Some of Canada's biggest banks were also influential decliners, but closed with only moderate losses.

German bond yields fell, gold and the Japanese yen surged and the leveraged bets on higher yielding currencies such as the Australian dollar took a beating.

USA crude futures extended losses from Thursday, when they tumbled 2 percent on fears of slowing demand and lingering concerns over a global oversupply.

The Dow Jones industrial average lost 50 points, or 0.2 percent, to 22,032.

Valeant's stock, which rallied a day before following quarterly results, sank 9.6 percent to C$17.85 after it said its subsidiaries in Australia were the subject of a tax audit.

Manulife Financial Corp was down 1.1 percent to C$25.64.

Recommended:

  • Laundering Scandal Hits Bank CEO

    Laundering Scandal Hits Bank CEO

    Narev will be paid A$5.71 million for the year ending June 2017, down 35 percent from last year's A$8.77 million. The head of Australia's Commonwealth Bank will step down by the middle of next year, the firm said.
    'Who's that girl?' - Justin Bieber's freakish  message to gym

    'Who's that girl?' - Justin Bieber's freakish message to gym

    She was later identified as Dutch-born Cindy Kimberly, 17, and she signed with a modeling agency a couple of months later. It said, " Who is that girl , ' then a heart emoji, then '?" She is working as a trainer there as well.
    Central Intelligence Agency  chief: No indication of imminent nuclear war with N. Korea

    Central Intelligence Agency chief: No indication of imminent nuclear war with N. Korea

    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.
  • Dow plummets 205pts as Trump inflames Korea tension

    Dow plummets 205pts as Trump inflames Korea tension

    Stocks took a hit for a third straight day Thursday as North Korea's nuclear threats seemed again to roil the markets. CURRENCIES: The dollar slipped to 109.05 yen from 109.20 while the euro weakened to $1.1763 from $1.1773.
    The Kardashians and Jenners Love Travis Scott

    The Kardashians and Jenners Love Travis Scott

    Her crew celebrated at a Kendrick Lamar concert Thursday, and with a screening of Halle Berry's new thriller "Kidnap". Tyga was accused of cheating several times , and his financial woes were well-documented .

    Kyle Larson makes it three straight at MIS, winning Pure Michigan 400

    He has won the last three Cup races at MIS, the first driver to do that since Bill Elliott, who won four straight from 1985-86. Keselowski led nearly the entire way through the 60-lap first stage, only giving up the top spot briefly during a pit cycle.
  • Marshawn Lynch sits during national anthem before Raiders preseason game

    Marshawn Lynch sits during national anthem before Raiders preseason game

    Lynch, who did not play in the game, sat on an orange cooler, arms on his knees, while all others around him stood. The Raiders return for another pre-season game Saturday, Aug. 19 at home against the L.A.
    Taylor Swift groping trial draws attention to hidden outrage

    Taylor Swift groping trial draws attention to hidden outrage

    Taylor Swift is claiming that Mueller grabbed her just beneath her skirt and one of her security guards witnessed it. Mueller said that Swift and her team "pressured station management to oust him from his $150,000-per-year job".
    FTSE sell-off gathers strength on North Korea fears

    FTSE sell-off gathers strength on North Korea fears

    AES Corp. shed 26 cents, or 2.3%, to $11.12. "The slight bias to the upside (in stocks) is a result of the CPI number". The stock lost $4.15 to $102.83. "Add it all up and stocks are vulnerable to a pullback or correction", Bittles said.
  • Has an internet sleuth uncovered Game of Thrones secrets concerning Jon Snow?

    Has an internet sleuth uncovered Game of Thrones secrets concerning Jon Snow?

    Whereas we thought that Dany and Cersei were queens fighting for the throne with no heirs to leave it to, the game just changed. Bron and Jaime are alive! Now, look, I'm no Napoleon, but Tyrion saw his brother get tackled into the water.
    Jammu and Kashmir: Militants attack Army camp in Kupwara, one soldier injured

    Jammu and Kashmir: Militants attack Army camp in Kupwara, one soldier injured

    The troops blasted a mosque and four residential houses during the operation that began late last night in Awneera area. In another encounter in Kashmir's Bandipora, two policemen were left injured when militants opened fire at them.
    Gators suspended for season opener against MI

    Gators suspended for season opener against MI

    Seven Florida football players are suspended for the season opener September 2 against MI , the school announced Sunday. The No. 16-ranked Gators open the season against MI in the Advocare Classic on September 2 in Houston against No. 9 MI .


Popular

Trump to call for probe of 'unfair' Chinese trade practices
President Trump plans to call for an investigation into China's intellectual property practices, according to reports Friday.

Barnaby Joyce a Kiwi?
There will be a directions hearing on the Gillespie case in August, with substantive hearings expected before the end of the year. Barnaby Joyce has referred himself to the high court in order to clarify whether or not he is a dual citizen of New Zealand .

Mourinho comments on Man United's title chances
Lukaku has now scored nine goals in nine Premier League games against West Ham , and 11 goals in 11 games in all competitions. Mourinho said: "Romelu scored in the Super Cup, scored twice today, he's playing well and he's working hard".

What Can Trump's Opioid State Of Emergency Actually Do?
States and cities ravaged the most by the epidemic can use federal disaster relief funds or request other types of emergency aid. Despite Christie's bullying and bluster on most issues, his willingness to tackle opioid addiction seems heartfelt and real.

Neymar to make debut from the start at Guingamp
Jordan Ikoko was the major culprit for the hosts when he netted an own goal in the 52nd minutes to the disappointment of his coach.