Dow slips 100 points as tensions with N.Korea escalate

Dow Jones Industrial Average

Dow Jones Industrial Average

The company's stock (NYSE:DIS) dropped $4.15, or 3.88 per cent, to US$102.83.

The Korean People's Army said yesterday it was "carefully examining" plans for a missile attack on the US Pacific territory of Guam, which has a large US military base. "Safe-havens are bid and markets are a little uneasy".

The euro was flat at $1.1759 while the dollar index against a basket of major currencies stood steady at 93.534 after dipping 0.1 percent the previous day. The broad-based S&P 500 dropped 0.2 percent to 2474.92 points, and the Nasdaq dropped 0.2 percent to 6370.46 points. The S&P 500 and Dow were both coming off record highs. The Nasdaq composite lost 39 points, or 0.6 percent, to 6,331.

The news was also greeted with dismay by traders in Asia, with Tokyo down 1.3 percent, Hong Kong losing 0.4 percent and Seoul registering a 1.1-percent decline.

A report on consumer price inflation is likely to attract attention on Friday, with consumer prices expected to rise by 0.2 percent in July.

U.S. government bonds strengthened, with the yield on the 10-year U.S. Treasury note falling to 2.229%, according to Tradeweb, from 2.246% on Wednesday.

Investors flocked to gold Wednesday against the backdrop of rising tensions between the USA and North Korea, offsetting some of the broad-based declines on the commodity-heavy Toronto stock index. -North Korea war of words and a clutch of disappointing earnings reports.

US stocks opened lower on Wednesday as investors flocked to safe-haven assets amid escalating tensions between North Korea and the United States. The Volatility Index increased 26% to 14.05, dipping slightly after reaching its highest level since mid-May earlier in the session.

S&P 500 Index
Daily September E-mini S&P 500 Index

However, shares of Dean Foods tumbled, trading 20.1 percent weaker at US$11.96 as of 2.24pm in NY, after the USA dairy processor posted quarterly results that fell short of expectations and downgraded its full-year forecast amid "a challenging and rapidly evolving retail environment". Today, you can download 7 Best Stocks for the Next 30 Days.

Platinum fell 0.3% to US$968.20 per ounce.

Two big retailers saw their shares fall rapidly after they announced results this morning.

Numerous large defense stocks have already rallied based on expectations for an improved outlook for US defense spending under the Trump administration. Job openings jumped 8 percent to 6.2 million, the Labor Department said Tuesday.

Technology stocks, the biggest gainers this year, led Thursday's market slide. "If the Dow drops 1,000 points over a week that might sound like a lot but it's 5%, and then I think it blows over and buyers start talking about next quarter's earnings".

Currency markets focused on the USA producer price index data due later in the session. Brent crude, the global standard, lost 23 cents to 52.14 dollars a barrel in London.

In other energy futures trading, wholesale gasoline dipped 1 cent to $1.62 a gallon.

I felt 'crap' for hitting marshal: Koepka
At the par-5 10th hole, his first of the day, Koepka failed to convert a 4-footer for birdie and had to settle for an opening par. Charley Hoffman had the lone birdie on the 18th, and the only two birdies on the 17th belonged to Ernie Els and Tommy Fleetwood.

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