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Stock markets slip as North Korea tensions build

12 August 2017

Earlier this week, U.S. President Donald Trump said that North Korea would face "fire and fury" if it continued to threaten the States, however North Korea has dismissed these warnings by the U.S. incumbent as a "load of nonsense".

The Dow Jones Industrial Average was down 82.37 points, or 0.37 percent, to 22,002.97, the S&P 500 had lost 8.34 points, or 0.34 percent, to 2,466.58 and the Nasdaq Composite had dropped 38.99 points, or 0.61 percent, to 6,331.47.

In Europe, equities dived with London losing 0.6 percent, while Frankfurt shed 1.1 percent and Paris fell 1.4 percent.

Global stock markets are firmly in the red after another escalation of tensions between North Korea and the United States.

Gold was the big victor Wednesday as stocks pared back to moderate losses and Walt Disney (DIS) dragged on the Dow, while Netflix (NFLX) and Priceline Group (PCLN) hindered the Nasdaq and retailers took some brutal hits after reporting second-quarter results.

But while investors appeared to favor safe-haven assets, some bargain seekers helped Wall Street's three major indexes pare losses and some US officials sought to dial back tensions.

Kennedy stressed the most logical solution to the growing tension is through diplomacy and involving treaty allies such as Japan and South Korea.

While European stocks.STOXXE have seen robust inflows in the wake of the French elections, their performance have lagged their US rivals since mid June.

Avid skywatchers to see partial lunar eclipse tonight
The partial eclipse would ends on 00:18PST (on August 08th), and the penumbral eclipse would end at 01:51PST (on August, 08th). The eclipse will travel faster than the speed of sound, crossing the entire United States in roughly 90 minutes.

Brent crude added 0.15 percent to $52.78 a barrel, inching towards a two-month peak of $52.93 set at the start of the month. It rose $15.70, or 1.2 percent, to $1,277.80 an ounce.

The stock exchanges in NY saw tiny losses at the end of trading on Tuesday, while Dow-Jones Index and S & P 500 earlier notched new records. The pan-European STOXX 600 hit its lowest level since the end of March, down 1%.

Tokyo's Nikkei 225 tumbled 1.3 percent to 19,737.59 points and Seoul's Kospi fell 0.7 percent to 2,378.56. The Dow is now 0.9% off its closing record, while the S&P 500 is 1.3% off and the Nasdaq is 2.7% off their respective closing records.

The Swiss currency was little changed against the dollar at 0.9637 franc after surging more than 1 percent the previous day.

While gold, a safe-haven favorite, pared some gains, it was last up 1.2 percent, at around its highest since mid-June. Brent crude, the worldwide standard, lost 23 cents to 52.14 dollars a barrel in London.

Materials, home to gold producers and other resource-based companies, was the only gainer among the index's 10 main sectors and was up 0.6 percent. Silver gained 47 cents, or 2.9 percent, to $16.86 an ounce.

USA gold futures for December delivery rose 0.4% to US$1,284.40 per ounce.

The US dollar fell to 110.48 yen from 110.72 yen late on Monday.

Stock markets slip as North Korea tensions build