Tech companies lead broad slide in USA stocks; oil rises

Judith Bessette
Agosto 13, 2017

"There's not a fundamental reason why what we're seeing out of North Korea right now should affect stock market prices, but it's being used as the reason to sell off right now because we've been looking for it for so long", Schiegoleit said.

Silver too gained Rs 70 to Rs 40,200 per kg on increased offtake by industrial units and coin makers.

Besides, persistent buying by local jewellers at domestic spot market stoked the uptrend. Bond and gold prices, traditional havens for nervous investors, were little changed, and the VIX, a measure of how much volatility investors expect in stocks, slid 6.7% following a 44.4% jump the day before.

Later on Friday, investors will look to US July consumer price data for hints on the Fed's policy outlook and near-term moves in the dollar.

Small attributed a large part of the Dow's decline to disappointing earnings from Disney after the media giant reported a weak quarter, said it would pull its movies from Netflix and start two of its own video streaming services.

South Korea's won currency dropped 0.9% against the dollar to its lowest close since July 13.

US producer prices unexpectedly fell in July, pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase.

US gold futures for December delivery rose 0.2 percent to $1,291.80 per ounce.

Coca Cola HBC AG (LON:CCH) Given "Hold" Rating at Shore Capital
OR now owns 121,346 shares of the company's stock valued at $5,031,000 after buying an additional 641 shares in the last quarter. Feltz Wealth PLAN Inc. purchased a new stake in shares of Coca-Cola Company (The) during the first quarter valued at $150,000.

The Standard & Poor's 500 index fell 7 points, or 0.3 percent, to 2,467.

The pan-European FTSEurofirst 300 index lost 1.19 per cent. Benchmark U.S. crude fell 83 cents, or 1.7 percent, to $48.73 a barrel on the New York Mercantile Exchange.

Wall Street stocks dropped early Thursday after North Korea announced a plan to send missiles towards Guam, raising the stakes of a nuclear standoff with the United States.

OIL: Benchmark U.S. crude lost 24 cents to $48.37 per barrel on the on the New York Mercantile Exchange while Brent crude, used to price global oils, declined 20 cents to $51.70 per barrel in London.

And in bond markets, 10-year US Treasuries and Germany's ultra-safe government bonds, known as Bunds, were trading at their highest prices since June. Humana Inc. rose $4.74, or 1.9 percent, to $254.96.

"Gold, one of the first ports of call in times of investor anxiety, is now trading 0.56% higher at US$1268/oz", he said. Hong Kong slumped 2.04 per cent, Shanghai slipped 1.63 per cent, Korea shed 1.69 per cent, Jakarta fell 1.03 per cent. Singapore shares also ended in negative territory as increasingly bellicose talk between the United States and North Korea prompted investors to take money off the table, while traders trimmed positions ahead of the weekend.

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

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