North Korea tensions continue to weigh on global stocks

Judith Bessette
Agosto 13, 2017

Small-company stocks fell more than the rest of the market Wednesday.

The Vix, Wall Street's so-called fear index, spiked last night as tensions between the USA and North Korea continued to escalate. But by the end of the day, traders appeared to take the geopolitical drama in stride.

The Nasdaq Composite Index plunged 2.1% to 6216.87 and the Standard & Poor's 500 Index dropped 1.45% to 2438.21. The Dow Jones Industrial Average, which had been steadily hitting records, posted its biggest decline since May on Thursday, while the CBOE Volatility Index, known as Wall Street's "fear gauge", rose to its highest level of the year.

The Nasdaq composite fell 13.31 points, or 0.2 percent, to 6,370.46. While the German DAX Index has edged down by 0.1 percent, the French CAC 40 Index and the U.K.'s FTSE 100 Index are both down by 1 percent.

The major averages all closed in positive territory, although the tech-heavy Nasdaq outperformed its counterparts.

Top automaker Hyundai Motor was up 0.69 percent, and top steelmaker POSCO advanced 0.44 percent.

The stock was the biggest gainer in the S&P 500, rising $8.02 to $45.25. The stock fell $169 to $1,879.98.

Disney dropped 4.5% after reporting a weak quarter and saying it would pull its movies from Netflix and start two of its own video streaming services. The stock lost $4.15, to $102.83.

The S&P 500 is down 38.62 points, or 1.6 percent.

Yen gains broadly on latest bout of Korean tensions
Trump launched another rhetorical salvo at the North to keep its nuclear weapons and ballistic missile programmes in check. . The dollar index.DXY, which tracks the greenback against six rival currencies , was down 0.17 percent to 93.391.

Wall Street stocks posted their biggest declines in almost three months Thursday as President Donald Trump doubled down on his warnings to North Korea over its nuclear program.

The Russell 2000 is up 15.41 points, or 1.1 percent.

Priceline Group slumped 6.5% after issuing a profit forecast that was weaker than analysts were expecting. The company booked a hefty charge and said its CFO is leaving. Hong Kong's Hang Seng shed 2% Friday and lost 2.5% for the week - its biggest weekly decline of the year.

Health-care stocks, which have been in a slump, posted gains. South Korea's Kospi fell 0.5 percent.

In commodities trading, U.S. crude oil was wallowing around $49 to the barrel amid speculation that a predicted gain in American output will offset OPEC-led efforts to trim a global glut. Brent crude, used to price global oils, gained 10 cents to $52.24 in London.

In other energy futures trading, wholesale gasoline was little changed at $1.62 a gallon, heating oil rose 2 cents, to $1.65 a gallon, and natural gas rose 6 cents, to $2.88 per 1,000 cubic feet.

The Dow is up 2,081.41 points, or 10.5 percent. Copper fell 2 cents, to $2.93 a pound.

CURRENCIES: The dollar slipped to 109.48 yen from 109.85 late Wednesday.

Gold fell $2.10 to $1,262.60 an ounce.

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