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prensaestatal.com Setiembre 22, 2017


Jittery stock markets fall amid global tension over North Korea

12 Agosto 2017, 02:55 | Dolorita Barahona

Asian stocks lower as US, NKorea nuclear tensions rise

US stocks close lower, snapping Dow's 10-day winning streak

The Russell 2000 index of smaller-company stocks ticked up 0.2% to 1,416. But the market quickly bounced back, led by numerous tech stocks that were sinking on Thursday.

The financial sector index.SPSY clawed back gains after news California insurance regulator will probe whether Wells Fargo & Co (WFC.N) and an insurance company harmed residents by selling insurance they did not need. Or are people using these geopolitical concerns as an excuse to take money out of the market -- tech stocks in particular?

South Korean stocks extended losses late Wednesday morning as rising tensions over North Korea's nuclear and missile programs weighed on the main index. The Dow is down 48.57 points or 0.2% at 22,036.77, the Nasdaq is down 20.93 points or 0.3% at 6,349.53 and the S&P 500 is down 3.18 points or 0.1% at 2,471.74.

"During the early Cold War, the more shrill the language used by Premier Khrushchev against the United States, the more tempered was the response of President Eisenhower".

Macy's tumbled 10.2 percent after its sales continued to decline in the second quarter.

The dollar fell 0.39 percent against the yen.

"Trump's comments about North Korea have created nervousness and the fear is if the President really means what he said: "fire and fury"," said Naeem Aslam, chief market analyst at Think Markets in London.

"The typical text book trade is that investors rush for safe havens", said Aslam. But the moves were modest.

Gold futures for December delivery climbed 1.3 per cent to settle at $1,279.30 (U.S.) an ounce on the Comex in NY.

United States producer prices unexpectedly recorded their biggest drop in almost a year, and the number of Americans filing for unemployment benefits unexpectedly rose last week.

"But with earnings coming to a close, no major economic data and seasonality issues, trading volume is expected to be slightly diminished". The stock lost $142.20 to $1,906.80. Bucking the trend, shares of Travelers and those of Home Depot rose, recently up 1.1 percent and 1 percent respectively, posting the biggest percentage gains in the Dow.

Technology companies were leading a broad slide in USA stocks in early trading Thursday as investors pored over the latest batch of corporate earnings reports.

The data comes amid tepid inflation that has remained below the Federal Reserve's 2 percent target, despite low unemployment. Banks and retail chains were also among the big decliners. Britain's FTSE 100 sank 1.3 percent. Humana rose $4.74, or 1.9 percent, to $254.96.

Unit labor costs had been expected to climb by 1.2% compared to the 2.2% jump that had been reported for the previous quarter. The Nasdaq composite advanced 0.4% to 6,408. The index is bouncing off its lowest closing level in six months. Chinese blue chips closed flat but Hong Kong's Hang Seng fell 0.4 percent.

Benchmark U.S. crude added 39 cents to settle at $49.56 a barrel on the New York Mercantile Exchange.

In commodities trading, U.S. crude oil was wallowing around $49 to the barrel amid speculation that a predicted gain in American output will offset OPEC-led efforts to trim a global glut.

Analysts warned the softening dollar could test June's low of 108.82 yen and even the 2017 trough of 108.13 yen.



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