Markets

The north Korean crisis comes to Wall Street

The north Korean crisis comes to Wall Street

That came after the S&P 500's biggest one-day fall in almost three months on Thursday, led lower by technology stocks.

MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.77 percent, on track for its third straight day of declines as it pulled further back from all-time highs.

The Nasdaq lost 2.1% to 6,216.87. Bond and gold prices, traditional havens for nervous investors, were little changed, and the VIX, a measure of how much volatility investors expect in stocks, fell 3.3 percent after a 44.4 percent jump the day before.

The New Zealand dollar was 0.79 lower against the greenback after New Zealand's central bank said it was slightly more uncomfortable with the high level of the local dollar than it had been in May.

Trump delivered the fresh warning to reporters Thursday in Bedminster, New Jersey, after a lunch with Vice President Mike Pence, saying his comments Tuesday that the USA would bring down "fire and fury" on North Korea, maybe weren't tough enough.

All three major stock indexes saw losses accelerate into the close after President Donald Trump amplified his fiery rhetoric aimed at North Korea's Kim Jong Un on Thursday afternoon.

The negative headlines provided many investors with an opportunity to pocket some of their recent gains after a string of record highs fueled by strong corporate earnings.

Bank of America Corporation (BAC) Upgraded to Hold at Vetr Inc
Laboratory Corporation of America Holdings ( NYSE LH ) traded down 0.12% during mid-day trading on Friday, reaching $156.21. Merriman Wealth Management Ltd Liability holds 0.08% of its portfolio in Bank of America Corp (NYSE:BAC) for 12,792 shares.

It has weakened 1.9 percent against the dollar this week, making it the worst performer among global emerging-market currencies. Apple was down 2.3 percent, weighing most on the index. Nigerian oil production rose by 34,300 bpd to 1.748 million bpd, while Saudi Arabia's went up by 31,800 bpd to 10.067 million bpd. South Korea's KOSPI was down 1.7 percent and Hong Kong's Hang Seng 1.8 percent.

The benchmark BSE index closed down by 317.74 points or 1.01 per cent at 31,213.59, its lowest close in over a month.The broader NSE index ended lower by 109.45 points or 1.11 per cent at 9,710.80.

Uncertainty over North Korea also reverberated in the foreign exchange market, where safe-haven currencies such as the Japanese yen and Swiss franc rallied.

The FTSE 100 miner said that interim adjusted Ebit rose to USD3.80 billion from USD875 million the year before, while net income in the first half was USD2.45 billion, swinging from a USD369 million loss a year earlier. Silver fell 0.3% to $17.04 per ounce after hitting $17.24, its highest since June 14, in the previous session.

At 12:36 p.m. ET (1636 GMT), the Dow Jones Industrial Average was down 158.98 points, or 0.72 percent, at 21,889.72 and the S&P 500 was down 27.37 points, or 1.11 percent, at 2,446.65.

Elsewhere in commodities, the September crude contract was up 39 cents to US$49.56 per barrel, September natural gas advanced six cents at US$2.88 per mmBTU and the September copper contract declined two cents at US$2.93 a pound.

Falling crude prices made oil & gas stocks a weight too, dropping 1 percent with Tullow Oil the top faller.


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