TSX falls 0.94% as oil drops, geopolitical tensions rise

Gains among technology companies helped snap a three-day losing streak for USA stocks Friday, though the market ended with its worst weekly loss since March.

Stocks rose as market bulls saw a buying opportunity after the threat of North Korea pulled Wall Street lower for three days straight.

The pan-European FTSEurofirst 300 index lost 1.06 percent and MSCI's gauge of stocks across the globe shed 0.17 percent.

The Dow Jones Industrial Average closed down 204.69 points, or 0.93 percent, at 21,844.01, the S&P 500 lost 35.81 points, or 1.45 percent, to end the session at 2,438.21 and the Nasdaq Composite fell 135.46 points, or 2.13 percent, to 6,216.87. The Nasdaq composite lost 20 points, or 0.3 percent, to 6,349.

Biotechnology stocks are turning in some of the market's worst performances in morning trading, resulting in a 1.6 percent drop by the NYSE Arca Biotechnology Index.

The Korean won also continued to fall, down 0.45 percent to 1,147.2.

Stock market falls can hit pension values, but savers who are not set to take their savings for a number of years typically don't need to worry, as losses are usually recouped over the longer term.

While gold, a safe-haven favorite, pared some gains, it was last up 1.2 percent, at around its highest since mid-June.

The S&P hasn't moved more than 0.5 percent in one day since July and has fallen more than 1 percent only twice this year.

After the bell, Twenty-First Century Fox shares were up 0.7 percent following the release of its results.

U.S. destroyer in South China Sea called 'provocation' by Beijing
Today's operation will likely complicate Donald Trump 's hopes to persuade China to help rein in North Korea's nuclear programmes. A US Navy destroyer recently sailed near Mischief Reef in the disputed South China Sea in a freedom of navigation operation.

The benchmark FTSE 100 was down 55.94 points at 7,442.12 in morning trade, as a raft of firms going ex-dividend weighed on the index.

Korea's Kospi dropped 1.7%, cementing a weekly loss of 3.2%.

The rhetoric between the United States and North Korea has continued to heat up, leading traders to look to safe havens such as gold and treasuries.

Update: The FTSE 100 has slumped further into the red amid persisting fears over North Korea tensions, with the sell-off accelerated by a slump in USA markets.

Hope that the Fed will have to slow its rate hike path appeared to stop, at least for now, the near $1-trillion loss in world stocks valuations this week triggered by the war of words between Pyongyang and the United States.

Gold added $3.90 to settle at $1,294 an ounce.

Traders took heart in a measure of US consumer prices that increased only slightly in July, pointing to benign inflation that could make the Federal Reserve cautious about raising interest rates again this year.

Investors also drew some encouragement from new government data showing USA inflation at the consumer level inched higher last month. Humana rose $3.41, or 1.4 percent, to $253.63. Copper fell 2 cents to $2.93 a pound.

European markets were also struggling amid the simmering political stand-off, with the Cac 40 in France dropping 1.4% and Germany's Dax tumbling by 1.1%. Brent crude, used to price global oils, gained 56 cents to $52.70 in London.

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