News Worms
News Worms

North Korea Tensions Hit Global Stock Markets

North Korea Tensions Hit Global Stock Markets

The Nasdaq composite lagged, falling 0.28% to 6,352.33. The Dow slid 0.2 percent to 22,085.34.

The strength on Wall Street was partly due to bargain hunting, with traders picking up stocks at reduced levels following the pullback seen over the past few sessions.

A weaker-than-expected July consumer price data also supported the recovery. Japan's Nikkei 225 Index tumbled by 1.3%, while Hong Kong's Hang Seng Index fell by 0.4%.

Investors reacted by driving up the price of gold and bonds, traditional safe-haven plays.

The rouble was little changed at 60.1 against the dollar and firmed 0.05 percent to 70.7 versus the euro.

Trump had told North Korea to not "make any more threats" to the USA or the country "will be met with fire and fury like the world has never seen".

The reclusive state raised the stakes further on Thursday with a detailed plan to send a salvo of missiles towards the USA territory of Guam.

Stock markets around the world continued their downward slide after US President Donald Trump made another verbal attack on North Korea. -North Korea tensions exact a toll on investor sentiment. "Hopefully Kim Jong Un will find another path!" Nine of the index's 10 main groups ended lower.

The slump comes after more than £27 billion was wiped off the value of blue-chip stocks on Thursday, sending the FTSE 100 to its biggest daily fall since April 18 this year.

Shares of Snap were off about 13 percent premarket following the social media company's earnings that came below estimates and a slew of price target cuts. Autodesk (ADSK) and Red Hat (RHT) posted notable gains.

Extending a recent downtrend, oil service stocks moved significantly lower over the course of the session.

Data showed the number of Americans filing for unemployment benefits unexpectedly rose last week, but the underlying trend remained consistent with a tightening labor market. The Japanese markets were closed for a holiday.

Steel and networking also saw some weakness on the day, although selling pressure was somewhat subdued.

The benchmark Korea Composite Stock Price Index lost 42.65 points, or 1.81 percent, to 2,316.82 as of 11:15 a.m. Investors' unease over escalating tensions between the USA and North Korea pushed gold and bond prices higher.

The Federal Reserve is also scheduled to release the minutes of its latest monetary policy meeting, which may shed some light on the outlook for the interest rates.

Blue Apron shares hit a record low at $5.03 after the meal-kit delivery service provider reported a bigger-than-expected loss in its first quarterly report as a public company.


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