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13 August 2017, 06:43 | Hattie Nash
Donald Trump's response to the North Korea situation has not been particularly calm
FTSE 100 index was trading at 7,326 levels, lower by 63.67 points, CAC 40 index was at 5,081 levels, down by 33.77 points, while the German DAX was at 11,997 levels, down by 16.82 points.
President Donald Trump said Friday that the USA military was "locked and loaded", while Pyongyang accused him of driving the Korean peninsula to the brink of nuclear war. While, the pan-European Stoxx 600 was down by 0.8%.
The three major USA stocks indexes ended higher on Friday, snapping three days of losses, as investors bet on slower US rate hikes, but gains were muted by increasingly aggressive exchanges between the United States and North Korea.
The Nasdaq composite lost 13.31 points, or 0.2 percent, to 6,370.46.
The S&P hasn't moved more than 0.5 percent in one day since July and has fallen more than 1 percent only twice this year.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, popped almost 11 percent to 11.02.
A statement from the North Korean military called President Donald Trump's warning that the communist nation would face "fire and fury" if it continued its provocations a "load of nonsense".
The back-and-forth came on the heels of reports the US intelligence community has determined North Korea has successfully produced a miniaturized nuclear warhead that can fit inside its missiles. On the Nasdaq, 1,596 issues rose and 1,112 fell. The single-session equity put/call ratio jumped to 0.83 - the highest since April - and the 21-day moving average rose to 0.65.
After a dip of as much as 0.52 percent earlier in the day, investors appeared to take some comfort in Tillerson's comments, said Richard Steinberg, managing director at HighTower Advisors in NY.
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.
Oil prices will be in focus, ahead of the Energy Information Administration's weekly inventories report at 10:30 a.m. ET. Eastern Time, alongside core CPI. In France, industrial production for June unexpectedly increased, and factory production was also better than expected.
Such an outcome would normally boost the US dollar, Spivak said in a note.
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There's a handful of high-profile economic data coming out of the Asia Pacific region to end the week, including: July house sales for New Zealand, the final reading of second-quarter growth as well as July retail sales for Singapore, and Hong Kong's second-quarter growth.
Stock movers: Shares of Snapchat parent Snap Inc.(SNAP) slid 14% in premarket trading.
The Dow and the S&P clung to tiny gains on Tuesday after scaling new records as support from technology stocks offset weakness in the healthcare and materials sectors.
The Dow is on track to post gains for the 11th straight session, the blue-chip index's longest streak for consecutive gains since February, driven by a strong quarterly earnings season. Apple is still up 35% for 2017 and hovers near a record high. The decline sent shares below their 10-week moving average in very heavy trade, a sell signal.
The data comes amid tepid inflation that has remained below the Federal Reserve's 2 percent target, despite low unemployment. "If we were threatened, the USA would take action and there'd be a Treasury rally", said Battle.
Investors again sought safe-haven assets such as gold and the Swiss franc, helping gold hit a more two-month high.
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Stocks Claw Back Gains but North Korea Keeps Pressure on
The Nasdaq Composite, meanwhile, was facing its worst week since the one ended December 2, which logged a loss of just over 2%. The single-session equity put/call ratio jumped to 0.83 - the highest since April - and the 21-day moving average rose to 0.65.
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President Donald Trump says he's planning a press conference Monday in Washington though it's unclear what he plans to discuss. Thursday's Late Show kicked off with an old-timey newsreel about North Korea's threat to bomb Guam, wherever that is.
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Dillard's slumped 15.5 percent after the chain booked a loss for the second quarter as increased inventory led to big discounts. The CBOE Volatility Index, a barometer of expected near-term stock market volatility, closed at its highest since the election.
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