Russian stocks undermined by tensions between United States and N.Korea
13 Августа 2017, 03:36 | Cesar Cruz
Losses snap Dow's winning streak
Tokyo's Nikkei 225 share index closed down 1.3 per cent at its lowest since June 1 as the strong yen hit exporters, while South Korea's KOSPI index fell 1.1 per cent to seven-week lows.
The Dow slumped 204.69 points or 0.9 percent to 21,844.01, the Nasdaq plummeted 135.46 points or 2.1 percent to 6,216.87 and the S&P 500 tumbled 35.81 points or 1.5 percent to 2,438.21.
Other markets: Oil turned lower after the International Energy Agency said oil supply rose for a third month as compliance with an OPEC output deal faltered but prices have rebounded (http://www.marketwatch.com/story/oil-prices-head-lower-as-global-tensions-continue-unabated-2017-08-11) to edge up.
Positive sentiment was also generated by a report from the Labor Department showing just a modest uptick in consumer prices in the month of July. The Volatility Index increased 39% to 15.41, a level not seen since mid-May. Core prices had also been expected to climb by 0.2%.
The consumer price data, which pointed to weak inflation, could cause the Federal Reserve to hold off from raising rates again this year.
Late in the session, President Donald Trump said perhaps his threat to unleash "fire and fury" on North Korea "maybe wasn't tough enough".
US stocks moved lower in morning trading Wednesday as traders weighed the growing tensions between the USA and North Korea.
Plans are being drawn up and will be ready by the middle of August, North Korea said.
Trump continued to ramp up the rhetoric with a post on Twitter this morning indicating that the United States is prepared to take military action against North Korea. The slide deepened after Trump's remarks on North Korea aired. "Hopefully Kim Jong Un will find another path!"
North Korea responded with a statement by its official KCNA news agency claiming Trump is "driving" the Korean peninsula to the "brink of a nuclear war". The stock fell $169 to $1,879.98. The index bounced off its lowest closing level in six months.
Health-care stocks, which have been in a slump, posted gains. Autodesk (ADSK) and Red Hat (RHT) posted notable gains.
In Europe, the pan-continental STOXX 600 index fell 0.9 per cent, with falls deepening after a auto rammed a group of soldiers in Paris, injuring six, in what officials said was a suspected terrorist attack.
Investors are losing enthusiasm for Canada's banking stocks as a slowdown in the country's housing market dents banks' growth prospects, with insurance companies seen as a better bet to benefit from higher interest rates.
The major European also saw further downside on the day. Germany's DAX fell 0.9 percent, while the CAC 40 in France lost 0.5 percent.
In the bond market, treasuries extended the upward move seen over the two previous sessions.
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