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12 Agosto 2017, 09:49 | Dolorita Barahona
Markets Right Now: Stocks drift lower on Wall Street
Energy stocks also fell as crude oil prices headed lower.
The Standard & Poor's 500 index slipped 0.90 of a point, or 0.04 percent, to 2,474.02.
The Dow Jones Industrial Average fell 0.9% to end at 21,844.01, the only close below 22,000 since breaking through that level for the first time August 2.
About 7.5 billion shares changed hands on USA exchanges, well above the 6.25 billion average for the last 20 days. The Nasdaq composite lost 0.2 per cent, to 6,370.46.
South Korea's benchmark Kospi index fell 1.1%, and the Nikkei in Tokyo sank 1.3%.
The market indexes wavered between small gains and losses for much of the morning, then veered lower by afternoon.
- Asian stock markets slid Wednesday following Wall Street's decline as President Donald Trump and North Korea traded threats over the North's nuclear program. They outweighed gains in health care stocks and elsewhere. Markets were primed for something slightly more dovish, so the NZD rose a third of a cent and the two-year swap rate rose two basis points.
Investors on Thursday scampered to safe-haven assets such as gold and the Swiss franc, helping the precious metal hit a more two-month high.
Gold rose again on Thursday as tensions between North Korea and the United States continued to impact markets.
Earlier in the week, Trump said the US would unleash "fire and fury" on North Korea if it continued to threaten the U.S.
"As a portfolio manager, you say, 'Do I think we'll get a war out of this?' " said Torsten Slok, chief global economist at Deutsche Bank, referring to the bluster between North Korea and President Donald Trump.
Safe-haven assets gained following the mounting geopolitical tensions. But the moves were modest. Meanwhile, after jumping $10.80 to $1,290.10 an ounce in the previous session, gold futures are climbing $6.50 to $1,296.60 an ounce.
"The escalation of the geopolitical situation between the USA and North Korea is beginning to rattle investors' nerves as was witnessed in the VIX index yesterday", said Peter Cardillo, chief market economist at First Standard Financial.
"Heightened geopolitical risks overnight have seen the markets flip from risk-on to risk-off and we have to wait and see how long this move runs before adding some positions", said Viraj Patel, an FX strategist at ING in London.
BAD TRIPS: Priceline Group slid 7.6 percent after the online travel booking service issued a profit forecast that was weaker than analysts were expecting. The stock lost $2.36, to $20.67.
WALL STREET: Losses in health care and consumer-focused companies pulled USA stocks lower, snapping a 10-day winning streak for the Dow Jones industrial average. The stock fell $4.15 to $102.83.
USA crude (CLc1) shed 10 cents to $49.07 a barrel. The euro edged down to $1.1727 from $1.1751.
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Against that backdrop, Dudley might provide an upbeat outlook and confirm the Fed is on track for a rate hike, said Innes. After a dip of as much as 0.52 percent earlier in the day, Wall Street's three major indexes bounced off intraday lows.