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prensaestatal.com Agosto 17, 2017


Global stocks fall on rising unease over North Korea

11 Agosto 2017, 11:15 | Dolorita Barahona

Global stocks fall on rising unease over North Korea

Global stocks fall on rising unease over North Korea

North Korean state media reported North Korea was considering a strike on Guam to contain US bases there.

At the very least I think the last three days show that the market's character has changed from indifference to something more emotional.

"Donald Trump should be relieved of the powers of the presidency at the earliest date".

"More likely than anything else, the price action was a function of an overextended U.S. equity market that has been in need for a healthy correction off record highs", LMAX Exchange analysts said in a morning note. "His sick mind and reckless conduct could consume the lives of millions".

Gold prices dipped lower in US trading on Tuesday following the latest US job-openings data which increased confidence in the labour market and also triggered sharp dollar gains as EUR/USD declined to 10-day lows below 1.1720.

U.S stocks are set to open deep in the red (-0.3%).

Stocks in Tokyo, one of the nearest capitals to Pyongyang, fell 1.3% to 19,738.71, while in Europe, the FTSE 100 lost 0.6% in morning trade, and the CAC 40 in Paris fell 1.2%. Early Friday, the ICE Dollar Index was up just 0.04% to 93.437.

The Chinese volatility gauge jumped by the most since January 2016, to its highest level in more than seven months. The Nasdaq composite fell 35 points, or 0.5 per cent, to 6,336. Two weeks ago, the VIX touched an all-time intraday low.

The latest United States economic data cemented expectations that inflation will remain subdued amid a robust labour market.

As investors sold stocks around the world, assets perceived as havens - such as gold, the Japanese yen and US government bonds - strengthened.

The Japanese yen hit an eight-week high against the USA dollar, while spot gold also reached a two-month high.

Plans are being drawn up and will be ready by the middle of August, North Korea said.

Note: U.S crude inventories last week fell by -7.8m barrels, more than expected, but gasoline inventories rose unexpectedly.

Housebuilders Persimmon, Taylor Wimpey (LSE: TW.L - news) and Barratt fell by 2.8 to 3% on weak house price data.

For now, the dollar remains on the back foot, pulling back 0.1% to 0.9635 Swiss francs today, after dropping as much as 1.2% to a two-week low overnight. The dollar is down 0.21% against sterling at the time of writing and down 0.27% against the Japanese yen.

Wilmar International slipped 6.4 per cent or 22 cents to $3.20; Hongkong Land lost 2.1 per cent or 16 USA cents to US$7.34.

The euro was slightly up against the USA dollar to last trade at 1.1754, though the single currency has plunged from the highs of 1.1909 achieved last week following reports showing a strong labor market in the US. It is poised to end the week down 1.9 per cent.



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