Investors move to safe havens as USA and North Korea trade threats

Investors move to safe havens as USA and North Korea trade threats

Auto parts maker Hyundai Mobis Co. was up 1.78 percent to 257,500 won, and No. 2 chipmaker SK hynix Inc. rose 0.31 percent to 64,400 won.

Federal funds futures suggested the chance of rate hike in December fell to 40 percent from 42 percent shortly before the release of the data. Netflix lost 1.5 percent.

With the tense mood pushing European shares down for a third day [EU] and Wall Street set to fall again [.N], global stocks .world were on course for their worst week since Donald Trump won November's US presidential election.

The Standard & Poor's 500 index fell 20 points, or 0.8 percent, to 2,453 as of 10:09 a.m.

Energy stocks also fell along with the price of crude oil. The Korean won fell against the US dollar. The S&P has lost more than 1 percent on only three days this year.

"If the US and South Korea carry out strikes and try to overthrow the North Korean regime and change the political pattern of the Korean Peninsula, China will prevent them from doing so", the editorial's authors said.

Markets began to tumble Tuesday after President Trump promised North Korea will face "fire and fury like the world has never seen" if the country continues to threaten the US. The Dow slumped 204.69 points or 0.9% to 21,844.01, the Nasdaq plummeted 135.46 points or 2.1% to 6,216.87 and the S&P 500 tumbled 35.81 points or 1.5% to 2,438.21.

Nvidia's quarterly revenue in its data center and automotive businesses missed estimates, dragging the chipmaker's shares down 3.90 percent. On the Nasdaq, 1,462 issues rose and 1,227 fell.

As sanctions loom, seafood trade slows on China-North Korea border
At the closing ceremonies of the 50th Asean Ministerial Meeting and Related Meetings, Foreign Affairs Secretary Alan Peter S. Ri is scheduled to attend the Association of Southeast Asian Nations ( ASEAN ), Regional Security Forum, or ARF.

The markets may benefit from bargain hunting, as some traders look to pick up stocks at reduced levels following the pullback seen over the past few sessions.

"Right now the market is viewing it as a lot of saber-rattling and a lot of smoke, but not much fire", said Darrell Cronk, president of Wells Fargo Investment Institute.

"The overnight Korean news has prompted some unwinding of the cheapening trades on the franc that has been going on for some time and though positioning is not stretched by any means, the franc's strength may have room to run", said Timothy Graf, head of macro strategy at State Street Global Markets in London.

Benchmark U.S. 10-year notes last rose 6/32 in price to yield 2.1905 percent, from 2.211 percent late on Thursday.

Euro zone stocks and blue-chips also dropped 0.7 percent, while the miner-heavy FTSE underperformed and was down 0.8 percent.

Shiseido shares soared 13.77 percent to 4,420 yen after the makeup company upgraded its annual sales and profit forecasts, and announced robust earnings for the January-June period.

Markets saw a tentative recovery in risk appetite in overnight US and early Asian trading, but anxiety mounted again as Asian stocks fell back and London, Frankfurt and Paris dropped 0.5-1.2 percent in Europe.

The local currency closed at 1,142.00 won against the USA dollar, down 6.80 won from the previous session's close. US crude was down 0.9 percent at $48.16 per barrel, on track for a weekly loss of 2.9 percent.

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