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United States stocks close slightly lower, trimming earlier losses
13 August 2017, 01:40 | Cesar Cruz
Cuban missile crisis markets soon recovered following the nuclear stand-off of 1962- Source Shutterstock
US President Donald Trump's brinkmanship in the escalating tensions with North Korea has taken a heavy toll on global markets, wiping $1 trillion off the value of shares worldwide.
FIRE AND FURY: Keeping up his tough talk, Trump told reporters that North Korean leader Kim Jong Un's government should "get their act together" or face extraordinary trouble, and suggested his earlier threat to unleash "fire and fury" on North Korea was too mild.
Johannesburg/London - Gold prices climbed to two-month highs on Friday as investors sought refuge from escalating tensions between North Korea and the USA, while bullion also received support from weak USA inflation data. The Dow Jones Industrial Average .dji fell 204.69 points, or 0.93 percent, to close at 21,844.01, the S&P 500 .spx lost 35.81 points, or 1.45 percent, to 2,438.21 and the Nasdaq Composite .ixic dropped 135.46 points, or 2.13 percent, to 6,216.87.
North Korea said it was completing plans to fire four intermediate-range missiles over Japan to land near the US Pacific island territory of Guam in an unusually detailed threat that further heightened tensions with the United States.
The Swiss franc reversed a two-week losing streak and gained 1.1 percent to as firm as 0.9611 per dollar. It is trading at its best level in two months, and is threatening to crack the $1,300 level for the first time since the day following the USA presidential election.
USA stock index futures fell, with the S&P 500 indicated to open down 0.4 percent after share prices fell in Europe and Asia.
The Standard & Poor's 500 index slipped 0.90 points, or 0.04 percent, to 2,474.02.
"A global stock market fund will have its fair share of value and growth companies, unlike -say- the FTSE 100 index which is predominately value-orientated with its bias towards energy, mining and financial, or the Japanese TOPIX which is growth-orientated with a predominance of consumer goods companies".
European markets also slid in early trade after Wall Street indices suffered their biggest losses in almost three months Thursday, while the dollar struggled to recover from eight-week lows below 109 yen as investors fled to safe haven assets. Ten-year USA yields dropped 4.3 basis points to 2.24 percent and German equivalents fell 3 bps to 0.43 percent, a six-week low. That's the index's lowest level in two months.
The broader Topix shed 0.65 point to 1,617.25, while the JPX-Nikkei Index 400 shed 8.16 points, or 0.1 percent, to end at 14,367.56. The yield on the 10-year Treasury note fell to 2.22 percent from 2.26 percent late Tuesday.
Shares of United States department stores Kohl's and Macy's were weak after their results.
The Japanese yen strengthened by 0.5 percent to around 109.70 per dollar. Australia's S&P/ASX 200 dropped 1.2 percent to 5,693.10. The euro slid to $1.1732 from $1.1752.
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Wall Street tumbles on North Korea worries
Labor Department is likely to report that initial jobless claims remained unchanged at 240,000 for the week ended August 5. In Europe, equities dived with London losing 0.6 percent, while Frankfurt shed 1.1 percent and Paris fell 1.4 percent.
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The 42-year-old said his captors treated him better after he adopted Islam, giving him clothes, food and medication. He added that his captors thought that US President Donald Trump would draw more Muslims to fight against the West.
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North Korea responded by detailing a plan to fire ballistic missiles toward the US territory of Guam, home to USA military bases. The post France's Macron speaks to Trump, warns over N Korea escalation appeared first on Vanguard News .