Stock markets extend losses at open

The FTSE 100 index tumbled yesterday, shedding 108.12 points to end the session 1.44 percent lower at 7,389.94, pressured by a selloff in homebuilders, which reacted to the latest house data, as well as by the ongoing geopolitical worries.

US President Donald Trump laid on another round of rhetoric against the North Korean plans for an attack on one of the United States' military bases in the Pacific.

There were falls of almost 2% on South Korea's Kospi and Hong Kong's Hang Seng, with markets in mainland China and Australia also down - taking their cues from sharp losses on Wall Street earlier. "You're less than 2 per cent off the high for the S&P heading into a weekend where uncertainty with North Korea still lingers".

Traders turned towards safe-haven assets such as gold, helping the precious metal touch a two-month high, and the Japanese Yen rose.

Although Japan could be in the front line of any clash with North Korea, the yen is benefitting because Japan is the world's biggest creditor nation and Japanese investors tend to repatriate funds in times of stress, attracting other flows. "This provides an excuse key in hand for investors to cash in profits, or at least to contain for the moment their fever buying in a market where many think it was ripe for a downturn", said Patrick O'hare of Briefing.

The pan-European Stoxx 600 ended over 1% lower to a five-month low with nearly all sectors in negative territory.

The index was also dragged lower after Beijing ordered probes into three major Chinese social networking platforms over outlawed content.

Spice it Up Bigg Boss!
She recently quit the show as she couldn't handle her feelings for a fellow contestant, Aarav, whom she said she was in love with. While an official confirmation about the same is awaited, it will indeed be interesting to see her back on the show.

The last time the S&P closed down more than 1 percent was May 17 when it fell 1.8 percent.

Markets had seen a tentative recovery in risk appetite in United States and early Asian trading, but as the war of words resumed Asian stocks dropped back and London, Frankfurt and Paris all lost 0.5 to 1.2 per cent.

The market was waiting for U.S. consumer inflation data on Friday that would offer more clues about future Fed decisions.

In bond markets, the yield on U.S. Treasuries fell, also pressured by the lowered expectations for a Fed move. The price rose 1.3 per cent in the previous session, the biggest gain since mid-May.

"On many occasions, we've also heard from the Russians, and from Russian oil producers, that once the deal is complete and free production reigns again that Russia will prime the pump", said Greg McKenna, an analyst at AxiTrader. The spot gold price was up 0.7 per cent at $1,286.07 per ounce by 1400 GMT, after hitting an earlier high of $1,286.40, its highest level since June 8. To Reuters citing Peter Kenny, in charge of the market strategy in Global Markets Advisory Group, " market participants are looking for any reason for a reset of course.

U.S. crude rose 0.41 per cent to US$48.79 per barrel and Brent was last at US$52.01, up 0.21 per cent.

Related News:

  • Burnley Stun Nine-Man Chelsea At The Bridge

    The 2017/18 Premier League season is finally under way and here's what happened on the opening Saturday... After just 15 minutes, they were also reduced to ten men when Gary Cahill was given a straight red card.

    N.Korea can expect "big, big trouble" if Guam attacked

    Tensions between North Korea and the U.S. escalated this week amid increasingly heated rhetoric between Washington and Pyongyang. Trump says he has yet to speak with the governor of the territory, but says, "I feel that they will be very safe, believe me".
    LG reportedly working on V30 Plus smartphone

    LG reportedly working on V30 Plus smartphone

    Its expected price tag will be the local Korean equivalent of $875, while the V30 is quite likely getting launched at around $700. Other than that, the devices may also differ in their "audio system" and "wireless charging".
  • The Standoff With North Korea Ends One of Two Ways

    The Standoff With North Korea Ends One of Two Ways

    China, which holds enormous financial leverage against North Korea, joined the other members of the council in the 15-0 vote. Alongside the United States, Pyongyang views its neighbors South Korea and Japan as its two other main enemies.
    Michael Hefele pens new Huddersfield deal

    Michael Hefele pens new Huddersfield deal

    Ahead of the trip to South London, boss David Wagner has spoken about how despite facing tougher opposite than in previous seasons, the mood at the club will not change.
    Arsenal beat Leicester City 4-3 in Premier League opener

    Arsenal beat Leicester City 4-3 in Premier League opener

    The Serie A side have now said they will not increase their offer and Shakespeare is happy to have Mahrez in the team. He adapts slowly to the way we want to play. "I think last season was such a disruptive season, I didn't like it".
  • Buccaneers kicker Roberto Aguayo released after missing two preseason kicks

    Buccaneers kicker Roberto Aguayo released after missing two preseason kicks

    FSU coach Jimbo Fisher suggested past year changes to Aguayo's kicking routine may have contributed to his inconsistency. The Buccaneers kicker began the preseason ideal by way of a chip shot 20-yard field goal on Tampa Bay's opening drive.
    OpenAI Bot Triumphant Playing Dota 2

    OpenAI Bot Triumphant Playing Dota 2

    While its actions per minute aren't any better than that of an average flesh-and-bone player, the choices make a huge difference. Footage of those matches can be found on Dota 2 Rapier's YouTube channel.
    CNMI governor backs Trump's stance on North Korea

    CNMI governor backs Trump's stance on North Korea

    The same system is now set up in Guam, a US territory in the South Pacific that has emerged as a potential target for Kim. Missile defense is an attractive but tricky strategy in dealing with missile threats.
  • Is this beloved Game Of Thrones character coming back from the dead?

    Is this beloved Game Of Thrones character coming back from the dead?

    Arya's acquisition of this illustrious weapon has major implications. "It was definitely hard to get it right", he said. Manhattan in The Watchmen series - being in all these places at once, in all these time zones at once.
    Trump to call for China trade investigation

    Trump to call for China trade investigation

    Next week the United States is scheduled to embark on its first round of renegotiations of the North American Free Trade Agreement.
    Philippe Coutinho going nowhere, say Liverpool

    Philippe Coutinho going nowhere, say Liverpool

    He looks really good in sessions but there was no time to give him five or 10 minutes in pre-season. When asked if his job was now to keep Coutinho happy, Klopp added: "I can't keep players happy".


Most liked

Congress sends invites for Opposition satyagraha in Gujarat
On his part, Congress veteran Ghulam Nabi Azad said NCP chief Pawar was unwell and he had spoken to him ahead of the meeting. The reason, sources said, might be the NCP being miffed with the Congress after it expressed doubt over its integrity.

Keith Ellison Says Kim Jong Un 'Acting More Responsible' Than Trump
When you hear words come out of his mouth, it seems like they could come out of the mouth of Kim Jong-un. Pacific Command showing B-1B Lancer bombers on Guam.

CCTV footage shows Vikas Barala buying alcohol before stalking
Meanwhile, investigators are still clueless about the whereabouts of the vehicle and the persons accused, police said on Friday. After massive outrage on streets and in the Parliament, the accused appeared before a Chandigarh court on Thursday.

Dow slips 100 points as tensions with N.Korea escalate
Global stock markets are firmly in the red after another escalation of tensions between North Korea and the United States. OIL: Benchmark U.S. crude lost 12 cents to $48.47 per barrel on the on the New York Mercantile Exchange.

Political tensions continue to weigh on world stocks
Significant strength was also visible among software stocks, as reflected by the 1.2% gain posted by the Dow Jones Software Index. Avis Budget Group slumped 9.9 percent after the auto rental company cut its guidance following a weak second quarter.

'Let's See' What N. Korea Does With Guam
We're with you 1,000%. "If caught outside, do not look at the flash or fireball - It can blind you". Governor said the people of Guam feel safe.

Pakistan again violates ceasefire in Poonch, one jawan martyred
One woman was killed in Pakistan shelling along the Line of Control in Jammu and Kashmir's Medhar sector early on Saturday. The martyred jawan, Nb Sub Jagram Singh Tomar, was grievously injured and later succumbed to his injuries.

Freighter free after running aground in St. Marys River
Contracted divers conducted an initial assessment of the vessel's stern Thursday and determined that it is structurally sound. The owner of the vessel is working on a salvage plan, and the cause of the grounding is under investigation.

PDP convention: We can not afford another mistake -Mark
The meeting which holds at the party's national secretariat Abuja is to prepare the party for its non-elective convention selected for Saturday, August 12, at Eagles Square Abuja.

Premier League updates from Goodison Park
Their only opening-match victory in the last nine seasons came in 2012-13, when they beat Manchester United 1-0 at Goodison Park. Only this summer, Wayne Rooney has returned to the Goodison Park, and former Barcelona forward Sandro Ramirez from Malaga also.

North Korea knows it can't afford to go to war
President Donald Trump says the USA military is " locked and loaded " to deal with North Korea, ramping up the rhetorical brinkmanship.

Trump tells Calvo he's behind Guam "1000%"
But Guam's governor said Thursday he supported Trump's stern warning to North Korea, saying "I want a president that says that". The plan calls for missiles to be fired into the sea about 40 kilometres from the coast of Guam.

La minaccia della Corea del Nord
Se gli Stati Uniti attaccheranno per primi, tuttavia, tentando di rovesciare il governo di Kim Jong-un, la Cina glielo impedirà. Lo dichiara in una nota il senatore di Forza Italia, Scilipoti Isgrò.

Giroud seals breathless Gunners win
Asked if Giroud could still leave before the transfer window closes on August 31 until January, Wenger replied: "No". Arsenal manager Arsene Wenger spoke to Sky Sports: "Going forward and character wise we have been great.

MBIA Inc. (NYSE:MBI)
The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link . MKM Partners reiterated a "buy" rating and issued a $15.00 price objective on shares of MBIA in a research report on Friday.