Economy

USA stocks close lower, snapping Dow's 10-day winning streak

USA stocks close lower, snapping Dow's 10-day winning streak

Auto parts maker Hyundai Mobis Co. was up 1.78 percent to 257,500 won, and No. 2 chipmaker SK hynix Inc. rose 0.31 percent to 64,400 won.

Reuters data show a 22 per cent perceived chance for a rate hike after the Fed's December meeting. The S&P shed 1.4%, its worst week since March, while the Nasdaq posted a weekly loss of 1.5%, its worst since June. USA and British equivalents were also trading a touch above Wednesday's six-week lows.

Falling crude prices made oil & gas stocks a weight too, dropping 1 percent with Tullow Oil the top faller. Away from the geopolitical drama, USA inflation data is due at 1330 GMT.

The pan-European FTSEurofirst 300 index lost 1.19 percent.

The dollar was further weighed down on Friday by the soft US inflation data.

North Korea went further with its threat to the US by providing detailed plans about how it plans to launch missile strikes on the US-Pacific territory of Guam.

'Manchester City should come good, but Brighton, Burnley and Huddersfield could struggle'
Their doggedness against the Premier League's most gifted opposition suggested they are unlikely to be a soft touch for anyone. I saw him on the TV last season, but it will depend on how he and the other players adjust to the Premier League.

In New York, the Dow Jones Industrial Average fell 75.62 points, or 0.34 per cent, to 21,973.08. TMX Group Ltd (X.TO) was up 3.5 per cent to $68.23, while Quebecor Inc (QBRb.TO) added 2.9 per cent to $44.60. Germany's DAX was flat, while France's CAC 40 fell 1.1 percent.

Health care equipment and services company Henry Schein declined amid a broader slide by health care stocks.

Stocks ended more than one percent down in Seoul while the won slumped to a three-week low against the dollar as the United States president and South Korea's volatile neighbor dramatically ramped up their war of words.

The yen was up 0.7% vs the dollar at Y110.20 and was 0.7% higher against the euro at Y128.74. Regeneron Pharmaceuticals led the pack, adding $6.99, or 1.5 percent, to $476.67.

"From a geopolitical perspective, we understand why the escalation in tensions will have shaken some of the complacency out of investors", said Eric Wiegand, senior portfolio manager at U.S. Bank Private Client Wealth Management.

The MSCI World index slipped 0.15%, extending Thursday's 1.1% drop, its biggest one-day slide since May 17.

United States lauds ASEAN stand on sea row despite 'tremendous pressure'
The "dual suspension" argument was first floated in March , when foreign minister Wang Yi spoke to reporters in Beijing .

"I take exception to the President's comments because you gotta be able to do what you say you're gonna do.In other words, the old walk softly but carry a big stick, Teddy Roosevelt's saying, which I think is something that should've applied because all it's going to do is bring us closer to a serious confrontation".

The 30-year bond last rose 6/32 in price to yield 2.7847 percent, from 2.794 percent late on Thursday.

USA gold futures for December delivery rose 0.8 percent to $1,272.00 per ounce.

"Whether it is a credit crunch in China, policy error from the Fed, or fear of an over-valued USA stock market, there are many reasons to maintain a balanced multi-asset portfolio that has exposure to defensive asset classes and currencies".

In commodities trading, United States crude oil was wallowing around $49 to the barrel amid speculation that a predicted gain in American output will offset OPEC-led efforts to trim a global glut.

AI can be more unsafe than North Korea, believes Elon Musk
While Musk's comments seem somewhat bombastic, they do shed light on the growing influence of artificial intelligence on humanity. President Donald Trump on Saturday, urging both sides to avoid words or actions that could worsen the situation.


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    "But I will behave on the touchline, even if goals are offside", he said. 'In many ways, it is my team, ' he said. Portuguese manager will have a mixture of youth and experience in his squad. "The top players are dependable".