Global stocks fall on Trump's North Korea warning; US$ up after data

Global stocks fall on Trump's North Korea warning; US$ up after data

Wall Street put a floor under global equities on Friday after a weak inflation reading brought investors back into U.S. stocks even as tensions between the United States and North Korea continued to escalate and inspire safe-haven buying of gold and the yen. The broad-based S&P 500 was hit even harder, dropping 1.5% to close at 2,438.22, while the tech-rich Nasdaq Composite Index lost 2.2% 6,216.87.

Disappointing earnings also helped pull the market lower Wednesday.

Market analysts expect that the pullback in stocks due to the increasingly aggressive tone in exchanges between Washington and Pyongyang will continue, although investors hope that the selling will not escalate to a correction - a decline of 10 percent or more.

Information technology fell 1.24 percent, hurt by a 16.6 percent plunge to C$66.50 in Kinaxis Inc stock.

A Labour Department report showed its producer price index posted a surprise drop in July, down 0.1 percent for the largest slide in nearly a year.

The influential financial stocks were among the biggest drags on the index, with Royal Bank of Canada down 1.5 percent to C$92.88, and Manulife Financial Corp falling 4.7 percent to C$24.43, its largest drop since early August past year.

"If the USA 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.

European shares fell sharply through the afternoon as investors sought safer assets amid the continuing tensions between the United States and North Korea.

Conte on Pedro, Morata, Wenger's comments and Chelsea's search for players
The Champions league is really cool because it is a tournament that takes the top teams from all over Europe i.e. I am pumped for this to start though, I mean it seems early, but hey it is regular season.

Many world stock markets have hit record or multiyear highs in recent weeks, leaving them vulnerable to a sell-off, and the tensions over North Korea proved to be the trigger. MSCI's broadest index of Asia-Pacific shares outside Japan closed 1.47 percent lower.

The 10-year notes US10YT=RR last fell 3/32 in price to yield 2.2655 percent, from 2.257 percent late on Monday.

Energy stocks retreated 0.5 percent, despite higher oil prices.

Winners and Losers: Live-events company Live Nation saw its stock climb more than five percent Thursday on news that concert ticket sales jumped 22 percent from a year ago. On the Nasdaq, 2,303 issues fell and 567 advanced.

US crude oil tumbled 2% to $48.59/bbl, failing to hold above $50 as a report from OPEC showed crude production among the group's members rose in July.

The Office for National Statistics reported that overall industrial production rose 0.5% in June on the preceding month, stronger than the 0.1% that the agency had calculated in for its preliminary estimate for the second quarter, after May's production was revised to flat.

Ongoing global glut concerns lingered in oil markets despite a bigger-than-expected draw in US crude inventories, leaving prices volatile.

But the safe-haven Japanese yen strengthened 0.33 percent versus the greenback at 110.39 per dollar.

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