Published: Sat, August 12, 2017
Markets | By Noel Gibbs

US-North Korea Tensions Cause Market Volatility; Oil Prices Slide — GLOBAL SNAPSHOT

US-North Korea Tensions Cause Market Volatility; Oil Prices Slide — GLOBAL SNAPSHOT

In addition to the gold, which benefited from the uncertainty, the VIX, volatility index of the S&P 500, jumped 44.4 % Thursday, taking with 4.93 points to 16,04.

Sentiment is expected to remain downbeat in today's trading, amid the ongoing summer lull and after the Dow posted its worst drop since May after President Donald Trump doubled down on his remarks from earlier this week that North Korea would face "fire and fury".

The reclusive state raised the stakes further on Thursday with a detailed plan to send a salvo of missiles towards the U.S. territory of Guam.

On the economic data front and according to the United States Department of Labor, the U.S. initial jobless claims rose to 244,000 from 241,000. They were at 2.201 percent on Friday.

In earnings news, retailers were under pressure after Macy's and Kohl's each reported lower second-quarter sales, reviving worries about consumer discretionary stocks.

The Canadian dollar was trading at an average price of 78.67 cents USA, down 0.04 of a US cent.

Cardin: Trump's warning for North Korea isn't a game plan
Ambassador to the UN Nikki Haley, as well as a unanimous vote by the UN Security Council to impose fresh sanctions on North Korea. Do you think the president's language helps or hurts right now? It's not acceptable for the United States.


The dollar widened losses against the yen to hit a two-month low.

Many world stock markets have hit record or multiyear highs in recent weeks, leaving them vulnerable to a sell-off, and the tensions over North Korea proved to be the trigger. It was down 0.1 percent at 109.07 yen JPY= , after retreating 0.8 percent on Thursday.

The tentative gains "suggest that the headline shock value pertaining to the US-North Korea standoff is starting to dissipate, which is to say actual action will now speak much louder than words", said Briefing.com analyst Patrick O Hare.

Weakness in U.S. Treasury yields may also be supporting the yen, Sweeting said.

The market was waiting for U.S. consumer inflation data on Friday that would offer more clues about future Fed decisions.

"Of course it's all come at a time when share markets are due for a correction so North Korea has provided a flawless trigger". The Nikkei finished down 0.1% at 19729.74 points.

Five attempts were made to stop PDP convention - Makarfi
We have overcome our challenges and we must all support those things that add value to the growth of our great party. The party took the decision today at its ongoing non-elective national convention in the nation's capital Abuja.


South Korea's benchmark Kospi index fell 1.69%. MSCI's broadest index of Asia-Pacific shares outside Japan .miapj0000pus closed 1.37 percent lower. On Wednesday Wharf shares rose 14% to a record on news unit Wharf Real Estate Investment would apply for a separate listing.

The yen on Friday added to a strong weekly rally against the dollar of close to 1.5 per cent, hitting its highest versus the greenback in nearly four months, at 108.73 yen. Mainland China stock prices were lower. The S&P 500 index was down 18.45 points to 2,455.57 and the Nasdaq composite index was down 68.32 points to 6,284.01.

The September crude contract was up 20 cents to US$49.76 per barrel and the September natural gas contract was up seven cents to US$2.95 per mmBTU. The Stoxx Europe 600 fell 1%.

North Korea warned foreign diplomats to leave Pyongyang in 2013 when it suspended work at a joint inter-Korean industrial park and threatened missile strikes on U.S. Pacific bases, notably in Guam and Hawaii.

Bitcoin and other "cryptocurrencies" are big money, virtually as big as Goldman Sachs and Royal Bank of Scotland combined. "Now some investors fear a giant crypto-bubble may be about to burst".

Asian markets swooned from the opening bell, and closed in the red. The figures, published in Amazon's latest annual accounts for its European online retail business, are likely to reignite the debate about US tech companies using complex crossborder arrangements to minimize the tax they pay across the continent. The stock has more than doubled over the past 12 months, gaining more than 160%.

Vessel Aground in St Marys River
Army Corps of Engineers surveyors will then look at the river bottom to make sure no debris is obstructing the channel. The Coast Guard says the 629-foot (192-meter) US vessel named Calumet left a steel facility in Sault Ste.


Apple Inc., whichsank 3.2%, and Goldman Sachs Group Inc.

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