United States stocks fall again on North Korea tensions

13 Août, 2017, 14:39 | Author: Marc Bacque
  • Traders working on the floor of the New York Stock Exchange

North Korea said it was completing plans to fire four intermediate-range missiles over Japan to land near the U.S. Pacific island territory of Guam in an unusually detailed threat that further heightened tensions with the United States.

Wall Street saw a stock sell-off on Thursday as rising tensions between the US and North Korea filled investors with worry.

On August 8, the S&P 500 started the day lower, rose to fresh highs, and closed below the opening levels. The Dow Jones industrial average slid 36.64 points, or 0.2 percent, to 22,048.70.

Other markets: Oil turned lower after the International Energy Agency said oil supply rose for a third month as compliance with an OPEC output deal faltered but prices have rebounded (http://www.marketwatch.com/story/oil-prices-head-lower-as-global-tensions-continue-unabated-2017-08-11) to edge up. MetLife fell 75 cents, or 1.6 percent, to $47.56, while Charles Schwab slid 69 cents, or 1.6 percent, to $41.33. The major index futures are now pointing to a modestly higher open for the markets, with the Dow futures up by 21 points.

Travel website operator Priceline Group Inc fell 6.9 percent after a disappointing financial forecast.

Bond prices were little changed. Core prices had also been expected to climb by 0.2 percent.

The headlines about North Korea served as a spark to jolt investors out of complacency on the heels of an extended period of calm in the market, said McClellan who shared the following chart in a report.

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In Asia, share markets remained pressured on Friday in morning session after US-North Korea geopolitical tensions came to the fore once again.

North Korea responded with a statement by its official KCNA news agency claiming Trump is "driving" the Korean peninsula to the "brink of a nuclear war".

On Friday, the president appeared to double down on his earlier threat, warning on Twitter that military solutions are in place and "locked and loaded". "Hopefully Kim Jong Un will find another path!" That's the index's lowest level in two months.

Data storage company Seagate Technology (STX) posted a standout gain within the hardware sector, jumping by 2.4 percent. The FTSE 100 index of leading British shares was 0.6 percent lower. Autodesk (ADSK) and Red Hat (RHT) posted notable gains.

It was a down day for Asian stocks, as traders shied away from riskier assets amid the ongoing war of words between North Korea and the U.S. The biggest loser in the region was Hong Kong's Hang Seng, which dropped 1.1%. The Japanese markets were closed for a holiday. Banks and department store shares also were among the big decliners. 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 percent.

The Federal Reserve is also scheduled to release the minutes of its latest monetary policy meeting, which may shed some light on the outlook for the interest rates.

Retailers' results are being keenly watched by investors to gauge the companies' strategy to counter No. 1 online retailer Amazon.com's growth.

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