Published: Sun, August 13, 2017
Global News | By Stacy Ballard

Stocks in Europe and Asia Slip as North Korea Tensions Rise

Stocks in Europe and Asia Slip as North Korea Tensions Rise

The FTSE 100 slipped by50 points, to 7,394, after having fell by 44 points on Wednesday and 108 points yesterday.

United Kingdom stocks headed sharply lower again on Friday, as the escalating tensions between the US and North Korea rattled investors and helped drive a global selloff.

Tensions with North Korea appear to have finally shaken the confidence of U.S. investors, after the S&P 500 opened 0.8% lower, threatening to end its 15-day streak with a closing streak of more than 0.3%, a 90-year record.

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In the eurozone, the Paris CAC 40 lost 0.3 percent compared with the closing level on Wednesday. Australia was off 1.2 percent.

Yields on low-risk German government bonds dropped to their lowest in three weeks after further declines in U.S. Treasury yields and gold is holding at more than two-month highs.

"European shares are trading once again lower. continuing their slide on the back of ever more increasing tensions between North Korea and the U.S.", added analyst Markus Huber at City of London Markets.

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Markets had taken heart earlier in the day after US Secretary of State Rex Tillerson sought to play down the escalating war of words between Washington and Pyongyang. Chinese mainland shares were also down 1.8 percent.

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. Trump said on Thursday that his first threat to unleash "fire and fury" may not have been tough enough.

But he also cautioned disappointing inflation data may delay interest rate increases.

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On commodities markets, oil advanced initially after figures from the American Petroleum Institute showed a sharp decrease in stockpiles.

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