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techkenyot.com October 21, 2017


Stocks slide on continued concern over tension between United States and North Korea

13 August 2017, 03:21 | Hattie Nash

US stocks fall in early trading amid US-North Korea tensions

Tech companies lead broad slide in US stocks; oil rises

"Although it is considered highly unlikely that this tension will escalate into a nuclear war, the market still needs to see how President Trump will eventually deal with his advocating "fire and fury" against North Korea's threat", said Margaret Yang Yan, market analyst at CMC Markets Singapore. Eastern time. The Dow Jones industrial average slid 52 points, or 0.2 percent, to 22,032.

The Nasdaq Composite was down 115.35 points, or 1.82 percent, at 6,236.98. All the indexes are down for the week.

Benchmark 10-year notes last rose 5/32 in price to yield 2.194 percent, from 2.211 percent late on Thursday. A spokesman for the Strategic Force of the Korean People's Army said early Wednesday that a plan to strike a USA military base in Guam was being considered.

"If you strip away what's going on in North Korea, and if you strip away what's going on in Washington, which are things that are tougher to predict, the economy, the global recovery, earnings, it all paints a very positive picture for the rest of the year", Kravetz said.

The S&P 500 volatility index, a measure of investor fear, rose for a second day. That's the biggest increase since May.

Stocks fall as tensions with North Korea escalate
Nordstrom shares were up 1.63 percent at $45.60 following the apparel retailer's better-than-expected quarterly same-store sales. South Korea's fell 1.7 percent to its lowest since May 24, but its losses for the week are a relatively modest 3.2 percent.

"Corporate earnings can be easily overshadowed if there is a real threat of a conflict". Japan and South Korea vowed a strong reaction if the North were to go through with the plan. Futures pointed to further declines on Wall Street, with S&P 500 futures down 0.4 percent and Dow futures falling 0.3 percent.

In the United Kingdom, gold mining stocks Randgold Resource and Fresnillo were among the few to gain - up 2.8% and 4.9%. The stock lost $4.08 to $102.90. Regions Financial shed 23 cents, or 1.6 percent, to $14.07.

Disappointing quarterly results from big department store chains also weighed down the market. The company also said sales at its established stores declined for the fourth straight quarter.

Dow member Disney dropped 3.9 percent as it reported flat third-quarter revenues due in part to weakness in its cable subscription business.

Major indexes in Europe closed mostly lower. Its weekly gain of 2.6 percent is the largest since June 2016. Brent crude, used to price global oils, added 10 cents to $52.80. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 1.47 percent lower. Germany's DAX fared better, trading only 0.2 percent lower at 11,989. Silver gained 20 cents, or 1.2 percent, to $17.07 an ounce. On the Nasdaq, 2,303 issues fell and 567 advanced.

Stock markets lower, gold price continues to rise amid political tensions
The S&P 500 Index closed 1.5 percent lower, the Nasdaq Composite dropped 2.1 percent and the Dow Jones Composite fell 1.4 percent. Computer hardware stocks rebounded following recent weakness, with the NYSE Arca Computer Hardware Index climbing by 1.4 percent.

CURRENCIES: The dollar fell to 109.97 yen from 110.48 yen late Tuesday. The euro fell to $1.1749 from $1.1752.

Major stock indexes overseas also racked up losses Thursday. Britain's FTSE 100 was down 1.1 percent. Hong Kong's Hang Seng dipped 1.1 percent to 27,444.00.

After touching a more than two-month high at $1,291.86, spot gold last added 0.2 percent to $1,288.81 an ounce.

US crude fell 0.41 percent to $48.39 per barrel and Brent was last at $51.68, down 0.42 percent on the day.

Markets slide, dollar slumps as North Korea fears spike
Trump's comments came after reports that North Korea has spurned a new round of sanctions approved by the UN Security Council. The market indexes wavered between small gains and losses for much of the morning, then veered lower by afternoon.



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