Economy

Wall St falls on ramp-up of U.S. tension with N. Korea

Wall St falls on ramp-up of U.S. tension with N. Korea

The influential financial stocks were among the biggest drags on the index, with Royal Bank of Canada down 1.5 percent to C$92.88, and Manulife Financial Corp falling 4.7 percent to C$24.43, its largest drop since early August past year.

Markets were also lower in Europe and Asia.

Wall Street saw a stock sell-off on Thursday as rising tensions between the US and North Korea filled investors with worry.

ANALYST'S TAKE: "The tensions between North Korea and the U.S.is an excuse for profit-taking", Seo Sang Young, an analyst at Kiwoom Securities.

North Korea said it was completing plans to fire four intermediate-range missiles over Japan to land near the U.S. Pacific island territory of Guam in an unusually detailed threat.

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Contrastingly, Watford (0.8) and Leicester (0.9) struggled more in front of goal during pre-season. However, it is Man City who have the best goals per game ratio, averaging 2.5 per match.

North Korea on Thursday outlined details for a missile strike near the U.S. territory of Guam, adding fuel to rising tensions with the United States.

Trump tweeted on Wednesday about the strength of the American nuclear arsenal, but expressed hope it would not need to be used, while U.S. Secretary of State Rex Tillerson said he did not believe there was an imminent threat. European stocks were facing the worst week in nine months (http://www.marketwatch.com/story/european-stocks-face-worst-week-in-9-months-on-us-north-korea-tensions-2017-08-11) on U.S. The country previously threatened a further "all-out war, wiping out all the strongholds of enemies, including the USA mainland" in a government statement.

"Today's inflation data put the Fed on pause and really diminishes the fact that there's still some noise going around with the North Korea-U.S. situation", said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. Regions Financial shed 23 cents, or 1.6 per cent, to $14.07.

Wall Street stocks fell early Wednesday amid anxiety over a US-North Korea war of words as Disney shares tumbled on disappointing results.

Among the early risers, soft drinks bottler Coca Cola HBC jumped as much as 2.5 per cent and touched a fresh record high after several brokers upped their price targets for the stock.

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Videos show the silver auto reversing and fleeing from the scene with a windshield covered in what appears to be blood. Video of the incident shows the auto driving at a high rate of speed over multiple counter-protesters at the rally.

Belgian drugmaker Galapagos was a rare bright spot, finishing up 4.8 per cent as brokers upgraded their view on the stock which also outperformed on Thursday after a successful drug trial.

The price of crude oil dropped more than two percent Thursday, the cost of a barrel falling to $48.49. Brent crude, used to price global oils, rose 20 cents to $52.10 a barrel in London.

The dollar slipped to 109.04 yen from 109.26 late Thursday. The index is bouncing off its lowest closing level in six months.

The FTSE 100 index dropped 1.1 per cent to a three-month low on Friday amid rising geopolitical tensions, with financials, miners and energy firms the biggest weights among blue chips. Australia's S&P/ASX 200 dropped 1.1 percent to 5,696.80.

Global stocks slide as US-North Korea nuclear tensions rise
The euro, which hit its highest since the start of 2015 on August 2, dipped 0.1 percent to $1.1761 in morning trade in Europe. The spot price of gold in Sydney at 1700 AEST was $US1,285.47 per fine ounce, from $US1,278.48 per fine ounce on Thursday.


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