Simmering North Korea tensions knock back Wall Street

Simmering North Korea tensions knock back Wall Street

USA stocks fell sharply on Thursday, with the Dow slipping more than 100 points, as lackluster results from retailers Macy's and Kohl's added to investor nervousness over escalating tensions between the United States and North Korea.

Trump issued a new tweet-warning to Pyongyang on Friday: "Military solutions are now fully in place, locked and loaded, should North Korea act unwisely".

Politics lifted USA defense stocks.

President Donald Trump said on Tuesday that USA threats from Pyongyang would be met with "fire and fury", which prompted North Korea to say it was considering plans for a missile strike on the US pacific territory of Guam.

The S&P/TSX composite index was down 91.01 points to 15,126.32, after 90 minutes of trading. He said that North Korea "can be very very nervous" if it acts on either the U.S. or its allies, and warned that "things will happen to them like they never thought possible". "But we're in a low inflationary environment, which can help valuations remain elevated for longer than they would otherwise".

South Korea's Kospi stock market index has fallen by 0.4% today, adding to the 1% wiped off shares on Wednesday.

The Canadian dollar was trading at 78.64 cents USA, down from an average price of 78.71 cents United States on Wednesday.

Emerging market stocks lost 1.20 percent.

The dollar index fell 0.3 percent, with the euro up 0.36 percent to $1.1812.

"Pretty remarkable, perhaps even extraordinary, considering", said Tim Ash, strategist at fund manager BlueBay.

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Information technology fell 1.24 percent, hurt by a 16.6 percent plunge to C$66.50 in Kinaxis Inc stock.

A Reuters Datastream index of more than 7,000 stocks across the globe saw its market capitalisation drop from a record high $61.36 trillion on Monday to $60.43 trillion at the close on Thursday.

Gold prices held early gains in Asia on Thursday with the market alert for more of the war of words between North Korea and Washington stoking geopolitical tension in the region.

US government bonds strengthened Friday as soft inflation data led investors to further scale back expectations for interest-rate increases from the Federal Reserve. Basically if the streak of trading days without a 1%+ up or down day is going to be broken, it's better for it to break with a 1%+ down day than a 1%+ up day.

Benchmark 10-year notes last rose 7/32 in price to yield 2.1888 percent, from 2.211 percent late on Thursday. Yields fall when bond prices rise.

Investors again sought safe-haven assets such as gold and the Swiss franc, helping gold hit a more two-month high.

Friday's report was the latest in a string of lackluster inflation readings, which have surprised many investors who had entered the year betting on an upsurge in economic growth and inflation. USA gold futures gained 0.26 percent to $1,293.50 an ounce.

Ongoing global glut concerns lingered in oil markets despite a bigger-than-expected draw in US crude inventories, leaving prices volatile.

The influential financial stocks were among the biggest drags on the index, with Royal Bank of Canada down 1.5 percent to C$92.88, and Manulife Financial Corp falling 4.7 percent to C$24.43, its largest drop since early August a year ago.

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