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13 August 2017, 11:09 | Kelvin Horton
Global safe-haven trades jump on escalating North Korea tensions
Growing tension between the U.S. and North Korea boosted the Swiss franc, the Japanese yen, gold and government bonds as investors sought out traditional safe havens at a time of geopolitical uncertainty.
He said: "The response that the North Korean nation was considering a missile strike on the United States base in Guam was the equivalent of a two fingered response to the USA president, and there is a danger that this war of words between two leaders with large egos could get out of control". Falls of just 0.3% were recorded by both the Dow Jones industrial average and the more broad-based S&P 500 in early trading. Brent crude, used to price global oils, declined 29 cents to $51.61 per barrel in London.
Geopolitics is supporting G7 government bond prices as investors rush to safer-assets after U.S President Trump warned North Korea that it will face "fire and fury" if it keeps threatening the U.S. Japan was closed on a public holiday.
This news drove up U.S. Treasury yields, making the U.S. Dollar a more attractive investment.
European stocks have fallen for a third day on Friday and look headed for their worst week since early November a year ago, as US President Donald Trump's rhetoric on North Korea over the past few days made investors risk averse.
Global markets tumbled Wednesday as US President Donald Trump and North Korean leader Kim Jong-Un ratcheted up their confrontational rhetoric, with the nuclear-armed North rolling out a plan to launch missiles towards the US Pacific territory of Guam.
Inflation has risen 1.7 percent over the past 12 months, suggesting that inflation pressures remain well under control.
In Hong Kong, shares ended lower, but developers provided support. "What's happened in North Korea is enough to do that".
The pan-European STOXX 600 was down 0.7% at closing, France's CAC 40 fell 1.4% after a vehicle hit a group of soldiers in Paris in what is thought to have been a deliberate act, and a fall in bond yields saw Germany's DAX down 1.1%.
Note: U.S crude inventories last week fell by -7.8m barrels, more than expected, but gasoline inventories rose unexpectedly.
The dollar weakened after news that USA producer prices unexpectedly fell in July, recording their biggest drop in almost a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase.
Investors retreated from several of this year's winners on Thursday, including shares of large USA technology companies and biotechnology firms.
Macy's dropped 4.2 percent as it reported second-quarter revenues fell 5.4 percent to $5.6 billion, another sign of the travails facing department stores.
Shares of Blue Apron Holdings fell 17% after it said it lost more money than analysts had expected in its first quarterly earnings report since going public in June.
Treasury yields fell as investors sought safety in the haven of the United States bond market.
Calls for prayer amid 'abhorrent' violence in Charlottesville
Virginia state police also said one of their agency's helicopters crashed Saturday outside Charlottesville, killing two troopers. Traci Blackmon, a black woman who was inside the church in Charlottesville, Virginia, described the fear of those people inside.
Team Liquid Wins $24 Million International Dota 2 Tournament
Most notably, the series was a 3-0 finish in favor of Liquid-the first time a team has completely swept a Valve event final. They simply never made any huge mistakes, and they punished Liquid's lack of effective gap closers with a last-pick Sniper.
Calls for South Korea to build nuclear weapons
Trump tweeted Friday: "Military solutions are now fully in place, locked and loaded, should North Korea act unwisely". Andersen Air Force Base and Naval Base Guam house an estimated 13,000 military members and their dependents.
Yankees put RHP Tanaka on DL with shoulder inflammation
Tanaka, struggling through an uneven season with a 4.92 ERA, was scheduled to open the Subway Series against the Mets on Monday. Girardi said there is nothing structurally wrong with Tanaka. "So we decided he just needs a break".