Economy

Stocks slide on continued concern over tension between USA and North Korea

Stocks slide on continued concern over tension between USA and North Korea

"What has changed this time is that the scary threats and war of words between the U.S. and North Korea have intensified to the point that markets can't ignore it", said Shane Oliver, head of investment strategy at AMP Capital in Sydney, as quoted by Reuters.

Japan's Topix index had the biggest slide in nearly three months, falling 1.3 per cent on trading volume 22 per cent higher than the 30-day average at the close.

The Swiss franc, by contrast, was on track for its biggest single-day rise against the euro in more than 2 1/2 years.

France's CAC dropped 1.6 percent and Germany's DAX fell 1.3 percent.

At 10:57 a.m. ET (1457 GMT), the Dow Jones Industrial Average .DJI was up 54.38 points, or 0.25 percent, at 21,898.39, the S&P 500 .SPX was up 8.69 points, or 0.35 percent, at 2,446.90. Platinum also moved up 0.8% to $979.85, while palladium moved up a percentage point to $900.30.

North Korea Crisis: EU Imposes New Sanctions Against Pyongyang
It adds China should also make clear that if North Korea launches missiles that threaten USA soil and the US retaliates, "China will stay neutral".

The dollar held steady at 110.02 yen JPY= , having pulled up from Wednesday's low of 109.56 yen, its lowest level since June 15.

US stocks rose Friday but were still on track for their biggest weekly loss in months, shaken by disappointing earnings results and an escalation of threats between the USA and North Korea. When the rhetoric between the two leaders heated up, investors were scurrying for safe haven currencies, including the Yen and the Swiss Franc, which surged about 1.1% on Wednesday.

It was 0.2 percent lower at 1.1310 francs, compared with highs of 1.1537 francs hit a week ago.

Japan is the world's biggest creditor country and there is an assumption that investors there will repatriate funds in a crisis.

South Korea's won currency dropped 0.9% against the dollar to its lowest close since July 13.

Pyongyang: "Completeremo presto il piano per attaccare al largo di Guam"
Nell'articolo viene anche precisato che gli Stati Uniti non devono pensare di essere al di fuori della gittata dei missili nordcoreani.

In Europe, equities dived, with London losing 0.8 per cent, while Frankfurt and Paris shed 1.3 per cent and 1.8 per cent respectively. Two weeks ago it saw its biggest weekly fall against the euro since the start of 2015. The yield - or interest rate - on a benchmark 10-year US Treasury bill dropped to 2.24%, while a 10-year German bund was yielding 0.43%.

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

"The market hates uncertainty and that's certainly what we have now", said Ole Hansen, head of commodity strategy at Saxo Bank.

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% following a 44.4% jump the day before.

USA crude shed 12 cents to $49.05 a barrel, while Brent crude fell 18 cents a barrel at $51.96 a barrel.

Maharashtra minister Subhash Desai offers resignation but Fadnavis declines it
It was later handed over for maintenance to the state government by the Defence ministry, which had acquired it in 1946. There will be a fair and an independent report conducted. "If he agrees, we will order a probe by Lokayukta".


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