KXIP vs KKR Live Score

Stock markets nosedived Thursday as investors continued moving into gold amid escalating political tensions between the United States and North Korea.

North Korea also laid out detailed plans of how it would launch a missile strike on US military bases in Guam (http://www.marketwatch.com/story/north-korea-details-plan-to-fire-missiles-toward-guam-says-only-absolute-force-will-work-with-trump-2017-08-09). North Korea responded to Trump's comments, claiming that it was "carefully examining" a strike on U.S. Pacific territory of Guam.

MARKETS OVERSEAS: In Europe, Germany's DAX was down 1.1 percent, while France's CAC 40 fell 1.4 percent.

Equity markets had traded with a soft tone in Europe and there was a sharp increase in selling pressure in NY with the S&P 500 index declining by close to 1.0%.

The limited fall in the price of Asian stocks suggests that stockholders are not unduly alarmed, experts said.

USA stock futures pointed to more losses for Wall Street on Thursday as tensions between the US and North Korea showed no signs of easing.

The Swiss franc reversed a two-week losing streak, rising rose 1.12 per cent versus the greenback at 0.96 per dollar.

While gold, a safe-haven favorite, pared some gains, it was last up 1.2 percent, at around its highest since mid-June. The FTSE 100 index of leading British shares was 0.7 percent lower at 7,489.

"U.S. Secretary of State Rex Tillerson called for the peaceful denuclearization of North Korea - a common goal of the global community - and stressed the importance of strengthening pressure on North Korea in diplomatic, economic terms", the South Korean spokesman said.

Smaller-company stocks also fell sharply.

THE QUOTE: "Risk-averse sentiment is dominating global equities markets, and USA indices have retraced from record levels over the last two days".

Traditional safe-haven currencies including the Swiss franc and Japanese yen rose against the United States dollar.

"I do not agree with the claim that the Korean Peninsula faces an imminent crisis", a Cheong Wa Dae official said while meeting reporters Wednesday. US -traded Nikkei futures NKc1 fell 2 percent to their lowest since mid-May. At 9:08 a.m. ET (1308 GMT), the Canadian dollar was trading at $1.2693 to the greenback, or 78.78 USA cents, down 0.2 per cent.

The euro was down 0.1 percent at $1.175 while the dollar fell 0.6 percent to 109.68 yen.

Oil prices edged higher after a report showed U.S. refineries processed record amounts of crude in the latest week, eating into inventories, although a surprise jump in gasoline stockpiles limited gains.

Brent crude dipped 0.05 percent to $52.68 a barrel. The Nasdaq composite lost 20 points, or 0.3 percent, to 6,349.

They also forecast that China's economy will lose some momentum in the second half of the year, and don't expect the same conribution to recent growth from the huge IT companies (think Samsung in South Korea, Tencent Holdings and India's Infosys) in the region.


COMMENTS