Wall Street Starts to Pay Attention to North Korea Tensions

Lloyd Doyle
Августа 13, 2017

The stock market jitters came as North Korea outlined plans to launch missiles aimed at the waters off the coast of the US Pacific territory of Guam.

In his latest warning to North Korea, U.S. President Donald Trump said on Friday military solutions were "fully in place" and referred to American weapons as being "locked and loaded" should the nuclear-armed nation act "unwisely".

"Henkel's Beauty has underperformed peers for several years and given the results this morning, this trend looks set to continue - at least over the near-term", said Investec analyst Eddy Hargreaves in a note.

At 9:38 a.m. ET (1338 GMT) the Dow Jones Industrial Average was down 85.43 points, or 0.39%, at 21 963.27, the S&P 500 was down 10.31 points, or 0.42% at 2 463.71.

The overall financials group, which accounts for roughly a third of the index slipped 0.9 percent.

While gold, a safe-haven favorite, pared some gains it was last up 1.2 percent at around its highest since mid-June, while the Swiss franc and the Japanese yen also rose.

The Chicago Board Options Exchange's Volatility Index, considered one of the best gauges of fear in the market, hit its highest level since May on Thursday.

The Nasdaq Composite .IXIC was up 34.61 points, or 0.56 percent, at 6,251.48.

Читайте также: Stock markets lower, gold price continues to rise amid political tensions

MARKETS OVERSEAS: In Europe, Germany's DAX was down 1.1 percent, while France's CAC 40 fell 1.4 percent.

Market bellwether Samsung Electronics Co. backtracked 2.79 percent to 2,231,000 won, and No. 2 chipmaker SK hynix Inc. was down 4.66 percent to 61,400 won.

Data showed USA producer prices unexpectedly fell in July, recording their biggest drop in almost a year, while another set showed the number of Americans filing for unemployment benefits unexpectedly rose last week.

Inflation has risen 1.7 percent over the past 12 months, suggesting that inflation pressures remain well under control. Wall Street was poised for a soft opening with S&P futures and Dow futures both down 0.2 percent. "Every August we have some reason to run up the alarm", Kenny said.

The consumer price data, which pointed to weak inflation, could cause the Federal Reserve to hold off from raising rates again this year.

J.C. Penney slumped 24.4 percent to a record low after the retailer reported a bigger-than-expected quarterly loss.

Declining issues outnumbered advancing ones on the NYSE by a 2.29-to-1 ratio; on Nasdaq, a 2.47-to-1 ratio favored decliners.

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