Economy

Korean shares end lower on foreign selling amid tensions over N. Korea

Korean shares end lower on foreign selling amid tensions over N. Korea

The price of gold, a safe-haven asset, hit its highest levels in two months as North Korea and the United States exchanged more threats, with North Korea outlining detailed plans for a missile strike near the Pacific territory of Guam.

Tillerson's tone was in sharp contrast to that of USA president Donald Trump, who warned on Tuesday any North Korean threat to the U.S. would be met with "fire and fury".

"The overall "Fear Factor" is the markets worst enemy that will feed on itself, leading to increased hedging".

While gold, a safe-haven favorite, pared some gains it was last up 1.2 percent at around its highest since mid-June, while the Swiss franc and the Japanese yen also rose.

At 12:36 p.m. ET (1636 GMT), the Dow Jones Industrial Average was down 158.98 points, or 0.72 percent, at 21,889.72 and the S&P 500 was down 27.37 points, or 1.11 percent, at 2,446.65.

The CBOE Volatility Index .VIX , a barometer of expected near-term stock market volatility, closed at its highest since the USA presidential election on Thursday, but was down 1.22 points at 14.82 points on Friday.

The Nasdaq Composite .IXIC was up 34.61 points, or 0.56 percent, at 6,251.48. The S&P 500 is up 9 percent, while the Dow is up 10.6 percent. The consumer discretionary index was one of its biggest losers with a 0.47 percent drop.

More news: Charlottesville: at least 1 killed in violence over USA far-right rally
More news: Trent Murphy Reportedly out for Season with Torn ACL
More news: Pressure on Pep Guardiola, Jose Mourinho to deliver on investment

Separately, US producer prices unexpectedly fell in July, recording their biggest drop in almost a year, weighed down by declining costs for services and energy products.

Shares of Kohl's were down 8.4%, while Macy's fell 4% after the department store operators reported a fall in sales. Wall Street was expecting more inflation.

THE QUOTE: "Inflation - or lack of -- has been an ongoing problem for the central bank and some policy makers have voiced concerns about this in recent months as they consider whether to raise interest rates again this year", said Craig Erlam, senior market analyst at OANDA.

"But now we're seeing increasing rather than diminishing tensions", he said.

J.C. Penney slumped as much as 18.25 percent to a record low after the retailer reported a bigger-than-expected quarterly loss.

Perrigo surged 17.6 percent after the drugmaker raised its full-year adjusted profit forecast.

Advancing issues outnumbered decliners on the NYSE by 1,432 to 1,310. Netflix also fell, giving up $3.37, or 1.9 percent, to $174.99.


  • The Twenty-First Century Fox, Inc

    Also, it has an estimated price-earnings (P/E) multiple of 15.3 and a trailing 12-month price-earnings (P/E) multiple of 24.24. The value of the investment in (FOXA) decreased from $2,010,000 to $835,000 a change of $1,175,000 for the reporting period.
    FTSE ends down as shares hit by US-North Korea tensions

    FTSE ends down as shares hit by US-North Korea tensions

    In the eurozone, the Paris CAC 40 dropped nearly 0.7 percent to 5,081.92 points compared with the closing level on Thursday. By the close of trading, the FTSE 100 was down 84.46 points, or 1.1%, to 7,305.48, having dropped 1.4% on Thursday.
    Are You Ready for the Next Total Solar Eclipse?

    Are You Ready for the Next Total Solar Eclipse?

    August 21 and end at 4 p.m. "For Kearney, the previous one was more than 800 years ago". But every so often , there's a narrow window when the Earth, sun and moon align.
  • Brokers Issue New Targets On Vanguard MSCI Europe ETF (VGK)

    Presently, BMO Equal Weight US Banks Index ETF (ZBK.TO)'s Williams Percent Range or 14 day Williams %R is resting at -22.38. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend.
    Brighton & Hove Albion v Manchester City - fans' View

    Brighton & Hove Albion v Manchester City - fans' View

    Of course he missed an open goal but he scored his goal and had a good fight against two central defenders". Crespo added: "I think the top four will be Manchester United , Manchester City , Chelsea and Arsenal ".
    Nitish Kumar government to launch drive against child marriage

    Nitish Kumar government to launch drive against child marriage

    Ansari said the faction led by Bihar Chief Minister Nitish Kumar has become a "Sarkari JD (U)". Earlier on Thursday, Yadav had said that the split in the Grand Alliance had really hurt him.
  • Korean stocks down 1.1 pct on heightened tensions over N. Korea

    Korean stocks down 1.1 pct on heightened tensions over N. Korea

    Japan is the world's biggest creditor country and there is an assumption investors there will repatriate funds in a crisis. The remarks, following North Korea's earlier revelation of a plan to launch a salvo of ballistic missiles toward the U.S.
    Pampling rushes tee shot 'for the boys'

    Pampling rushes tee shot 'for the boys'

    The Australian raced to the tee and took a wild swipe at the ball, slashing it left into trees in order to beat the horn. Rod Pampling already knew he wasn't making the cut, so he had some fun on the ninth instead.
    Facts About North Korean Dictator Kim Jong Un

    Facts About North Korean Dictator Kim Jong Un

    For North Korea, an ICBM established a deterrence in the event of a reunification campaign. I mean, his rhetoric might make Kim Jong Un think that he needs to strike first.
  • Tigers' slump continues with loss to Twins

    Tigers' slump continues with loss to Twins

    He worked the count to 2-0 and then watched as Minnesota Twins reliever Matt Belisle threw an effective slider. Rockies center fielder Charlie Blackmon went 4 for 5 with two runs scored and two stolen bases.
    United States  has been conducting back-channel talks with North Korea for months

    United States has been conducting back-channel talks with North Korea for months

    But if North Korea escalates, the USA must be prepared to escalate to massive disarming strikes, including use of nuclear weapons. Heretofore, the administration has urged China to press North Korea as a kind of subcontractor to achieve American objectives.
    Auto  plows into crowd following Virginia white nationalist rally, driver in custody

    Auto plows into crowd following Virginia white nationalist rally, driver in custody

    Videos show the silver vehicle reversing and fleeing from the scene with a windshield covered in what appears to be blood. Warning: The video below contains language and images that may be disturbing to some viewers .