Markets

Markets extend losses as Korea tensions escalate

Markets extend losses as Korea tensions escalate

But the market quickly bounced back, led by numerous tech stocks that were sinking on Thursday.

The yen is often sought in times of geopolitical tension, partly because Japan has a big current account surplus.

The dollar index.DXY, which tracks the greenback against six rival currencies, was down 0.17 percent to 93.391. Tokyo's Nikkei 225 share index closed down 1.3% at its lowest since June 1 as the strong yen hit exporters, while South Korea's KOSPI index fell 1.1% to seven-week lows.

The FTSE 100 index tumbled yesterday, shedding 108.12 points to end the session 1.44 percent lower at 7,389.94, pressured by a selloff in homebuilders, which reacted to the latest house data, as well as by the ongoing geopolitical worries.

"It's surprising that given Japan's proximity to North Korea the yen is seeing any benefit from risk aversion", said Lennon Sweeting, chief market strategist for XE.com, in Toronto.

Missile makers Raytheon and Lockheed Martin have outperformed Wall Street by nearly four per cent in recent days and the Dow Jones US defence index is at a record high and on a seven-day unbroken run of gains.

The modest rebound came at the end of a turbulent week on Wall Street as escalating tensions between the USA and North Korea rattled global markets.

Bucs cut beleaguered kicker Roberto Aguayo
It's a pretty stunning fall from grace for Aguayo, who was arguably the best kicker in college football history. It was the first time a kicker had gone so high since 2005, when the Jets took Mike Nugent .

"If the data continues to come in on the softer side, the market might start to price the Fed staying on hold this year", said Sireen Harajli, FX strategist at Mizuho in NY.

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. It was last up 1.2pc at 1.1305 per euro. Euro/dollar edged up from 1.1747 to 1.1754, while the yen gained the most, with dollar/yen sinking by 0.37% to an eight-week low of 109.31.

Below that level lies another key technical chart support level for the dollar at 108.13 yen, a trough the USA currency k plumbed in mid-April. The Treasury yield us 10-year fell to 2,201 % vs. 2,248 % Wednesday night and one of the warrants to 30 years 2,778 %, compared with 2,824 %.

The latest U.S. economic data cemented expectations that inflation will remain subdued amid a robust labour market.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose $3.40, or 0.26%, to $1,293.37 a troy ounce. It was on course for an over 5% weekly rise, the highest such gain since July 2016.

The Dow ended a nine-day streak of closing records, falling by 0.24%, while the Nasdaq fell by just under half a percent and the S&P was down by 0.21%.

Ongoing global glut concerns lingered in oil markets despite a bigger-than-expected draw in USA crude inventories, leaving prices volatile.


  • Champions Chelsea reduced to nine and beaten 3-2 by Burnley

    Champions Chelsea reduced to nine and beaten 3-2 by Burnley

    Had Morata not touched a goal-bound Christensen shot over the line five minutes later, it would have been 3-2 sooner. But Rooney ended a scrappy first half when he headed in to mark his Goodison homecoming in the best possible style.
    Rep. Engel Compares Trump To Kim Jong Un

    Rep. Engel Compares Trump To Kim Jong Un

    Savage said many on the left who are criticizing Trump for his tough rhetoric seem to be siding with Kim. Beijing's appeal came as North Korea said it could reduce the USA mainland to ashes "at any moment".
    To air 'Jersey Shore' reunion special August  20

    To air 'Jersey Shore' reunion special August 20

    The Situation , meanwhile, admits that though " Pauly D was my boy in the house, it's been five years and we haven't spoken". One trailer also reveals that Mike and Pauly haven't talked in five years.
  • Mourinho hails Lukaku & Matic despite open goal miss, defensive blunders

    Mourinho hails Lukaku & Matic despite open goal miss, defensive blunders

    The 23-year-old is not the finished article, but his energy and physical presence make his ideal for the Premier League . Nemanja Matic made 112 defensive actions in the Premier League last season.

    Healthcare Realty Trust Incorporated

    Capital Management Corp VA's holdings in Empire State Realty Trust were worth $270,000 as of its most recent SEC filing. KeyBanc Capital Markets downgraded Physicians Realty Trust (NYSE:DOC) on Friday, December 16 to "Sector Weight" rating.
    Need solar eclipse glasses?

    Need solar eclipse glasses?

    Contrast that to the 21 century, when we'll see six widely visible total solar eclipses starting this year and ending in 2099. Scientists will study the sun's magnetic field and determine how energy moves through the Sun and out into space.
  • Wall St closed lower, Dow snaps winning streak: ASX to open flat

    Wall St closed lower, Dow snaps winning streak: ASX to open flat

    Heightened geopolitical tension remained a drag on global equity markets, with havens assets from the yen to gold in demand. The Swiss franc eased about 0.2 percent to 0.9658 per dollar, having surged roughly 1.1 percent on Wednesday.
    Asian markets suffer bloodbath over escalating US, North Korea tensions

    Asian markets suffer bloodbath over escalating US, North Korea tensions

    Nordstrom shares were up 1.63 percent at $45.60 following the apparel retailer's better-than-expected quarterly same-store sales. President Donald Trump , left, and North Korean leader Kim Jong Un during a news program at the Seoul Train Station on Thursday.
    Premier League Ones to Watch

    Premier League Ones to Watch

    He did insist, though, that he was still fully focused on defending the club's Premier League title this season irrespective of any other concerns.
  • Welcome boost from China to global pressure on North Korea

    Welcome boost from China to global pressure on North Korea

    China reiterated its support for the UN Security Council's sanctions on North Korea, saying it would adhere to them very strictly. Alongside its ritual ballistic missile tests, North Korea has conducted nuclear tests on five occasions, two of which in 2016.
    Elon Musk's AI bot beats world-class gamers at Dota 2

    Elon Musk's AI bot beats world-class gamers at Dota 2

    Artificial Intelligence is now one topic, about which people are really divided and quite skeptical. It's not only Google's AI that has the potential to defeat humans in their own game.
    Michael Carrick expects Premier League title challenge from Manchester United

    Michael Carrick expects Premier League title challenge from Manchester United

    Having finished seven points behind Chelsea , Spurs have yet to make a single signing, and Walker's sale to City and a season playing their home games at Wembley adds to Pochettino's problems.