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13 August 2017, 03:21 | Austin Hogan
US STOCKS-Wall St lower as investors weigh rising N. Korea tensions (LMT, RTN, GD, NOC, DIS, NFLX, PCLN)
The stock fell $2.04 to $20.99.
"The slight bias to the upside (in stocks) is a result of the CPI number. That reset is being triggered by North Korea geopolitical concern and stretched valuations", said Peter Kenny, senior market strategist at Global Markets Advisory Group, New York.
Simmering tensions between the US and North Korea were also weighing on the market.
"If you strip away what's going on in North Korea, and if you strip away what's going on in Washington, which are things that are tougher to predict, the economy, the global recovery, earnings, it all paints a very positive picture for the rest of the year", Kravetz said.
But although US equities on Wednesday managed to close only slightly down even after Trump's warning that "fire and fury" would rain on North Korea, on Thursday the chickens came home to roost on Wall Street.
In the first four days of the week, the Standard & Poor's 500 index swung from marking its latest record high to posting its biggest single-day drop in almost three months. "You're less than 2 percent off the high for the S&P heading into a weekend where uncertainty with North Korea still lingers".
At 10:43 a.m. ET (1443 GMT), the Dow Jones Industrial Average was down 52.43 points, or 0.24 percent, at 22,032.91, the S&P 500 was down 5.29 points, or 0.21 percent, at 2,469.63. The yield on three-year Treasurys fell 2.0 basis points to 1.804 percent and the return on benchmark five-year government bonds shed 2.0 basis points to 2.004 percent.
MARKETS OVERSEAS: In Europe, Germany's DAX was down 1.1 percent, while France's CAC 40 fell 1.4 percent.
"Pretty remarkable, perhaps even extraordinary, considering", said Tim Ash, strategist at fund manager BlueBay. -North Korea tensions. The VIX, a measure of how much volatility investors expect in stocks, jumped 25.2 percent, the biggest increase since May.
US, France pledged to work to denuclearize North Korea
The influence of China in Pyongyang seems to be greatly reduced since Kim Jong Un became the North Korean leader in December 2011. Professor Lucas said: "The Chinese and the USA have been talking behind the scenes for months about what to do".
This caused some economists to speculate there may be no more interest rate rises this year. MSCI's broadest index of Asia-Pacific shares outside Japan closed 1.48 percent lower.
The dollar was further weighed Friday by the soft US inflation data.
"If the data continues to come in on the softer side, the market might start to price the Fed staying on hold this year", said Sireen Harajli, FX strategist at Mizuho in NY. Apple was down 2.3 percent, weighing most on the index.
London's FTSE 100 dipped by about 90 points, or more than 1%, in morning trading on Friday, adding to a slump of more than 100 points the day before and taking it to its lowest level since May.
"This inflation data for the month was not good".
Bond prices, which move inversely to yields, closed lower.
After touching a more than two-month high, spot gold last added 0.1 percent to $1,287.18 an ounce. Silver also rose, gaining 38 cents, or 2.3 percent, to $16.77 an ounce.
Ongoing global glut concerns lingered in oil markets despite a bigger-than-expected draw in US crude inventories, leaving prices volatile. Brent crude, used to price worldwide oils, gained 16 cents to $52.30 in London.
North Korea spat rattles Wall Street
Demand for German government bonds - seen as one of the safest financial securities in the world - intensified on Friday as U.S. The annual rate stood at 1.8%, which was below the 1.9% observed last month and the forecast of 2.1%.
S&P falls 1.4 percent in safety flight on North Korea tensions
The data comes amid tepid inflation that has remained below the Federal Reserve's 2 percent target, despite low unemployment. The Dow Jones was down 0.3% in opening trade, declining to 22,016.8 and the wider S&P 500 index dropped 0.48% to 2,463.18.
Rajya Sabha logged 80% productivity, Lok Sabha 78% this session
She said during these period, the House passed Supplementary Demands for Grants (General) and Demands for Excess Grants (General). The lower House, however, passed more bills as compared to the upper House which spent more time on non-legislative business.
Dow slips 100 points as tensions with N.Korea escalate
The latest sell-off was the most severe yet, amounting to the biggest single-day drop for the stock market in almost three months. While the German DAX Index has edged down by 0.1%, the French CAC 40 Index and the UK's FTSE 100 Index are both down by 1%.