Global News

European markets end lower amid geopolitical tensions

European markets end lower amid geopolitical tensions

It is now on track for its biggest weekly drop since the week before the November 8 USA presidential election.

Currently, the major averages remain in positive territory but off their best levels of the day.

The Standard & Poor's 500 index fell 35 points, or 1.4 percent, to 2,438, its biggest drop since mid-May.

Canada's main stock index turned slightly higher in early trade on Wednesday, as gains for gold miners and energy companies with higher commodity prices offset falls among financials.

A weaker-than-expected July consumer price data also supported the recovery. Economists had expected prices to rise by 0.2%. Core prices had also been expected to climb by 0.2%.

US equities steepened their losses late in the session after President Donald Trump said his earlier warnings to North Korea may not have been tough enough.

The tensions, since Trump's "fire and fury" comments on Tuesday, have wiped out almost $1 trillion from the global equity markets. "When you're due, there's always going to be something that happens in the world that's going to make people nervous", Matthew Peterson, chief wealth strategist for LPL Financial in Charlotte, North Carolina, told Reuters.

Tokyo's Nikkei 225 share index closed down 1.3 per cent at its lowest since June 1 as the strong yen hit exporters, while South Korea's KOSPI index fell 1.1 per cent to seven-week lows. And in a Friday morning post on social media site Twitter, Trump wrote: "Military solutions are now fully in place, locked and loaded, should North Korea act unwisely. Hopefully Kim Jong Un will find another path!"

PGA Championship 2017: Kevin Kisner retains lead after steady Round 3 performance
Even with the changes that the pros hated, the golf course overall held up to a major standard easily. Needless to say, Kisner will be breaking new ground as he heads to the weekend with the lead.

Trump's threats have escalated since reports broke at the beginning of the week that North Korea had successfully produced a nuclear warhead that could fit inside its missiles.

The Dow industrials rose 14.31 points, or less than 0.1%, to 21858.32 on Friday. Genesee & Wyoming (GWR) is posting a notable gain after reporting an increase in July traffic.

Advancing issues outnumbered decliners on the NYSE by 1,432 to 1,310.

The tech-heavy Nasdaq composite bore the brunt of the sell-off, losing 135.46 points to 6,216.87.

Adding to the modest losses posted in the two previous sessions, stocks moved sharply lower over the course of the trading day on Thursday.

The rhetoric, which began late Tuesday and continued into Friday, interrupted stocks' march higher and cracked the calm that has enveloped the market for months.

Asian markets swooned from the opening bell, and closed in the red. Ten-year USA yields dropped 4.3 basis points to 2.24 per cent and German equivalents fell 3 bps to 0.43 per cent, a six-week low. The yield on three-year Treasurys fell 2.0 basis points to 1.804 percent and the return on benchmark five-year government bonds shed 2.0 basis points to 2.004 percent.


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