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13 August 2017, 07:09 | Austin Hogan
US stocks close slightly lower, trimming earlier losses
Stock markets around the world were under pressure on Wednesday amid increased tensions between the us and North Korea following comments from President Donald Trump, and big entertainment stocks were among the many decliners.
Nasdaq 100 e-minis were down 1 points, or 0.02 percent, on volume of 49,062 contracts. The Nasdaq composite lost 37 points, or 0.6 percent, to 6,332.
Volatility gauges from the U.S. to Japan rose after president Donald Trump said in response to a Washington Post report on North Korea's nuclear capabilities that further threats from the country would be met with "fire and fury". Secretary of State Rex Tillerson later insisted the USA isn't signalling it's about to mete out a military response despite threats from North Korea suggesting it could attack Guam, a US island territory in the Pacific.
The yield on the 10-year Treasury bond fell to 2.2% and is approaching its lowest level of the year.
Barrick Gold Corp rose 2.3 per cent to C$21.74 as the price of gold, a safe-haven asset, reached its highest levels in two months.
But U.S. stocks regained some lost ground, despite Trump's comments Friday that U.S. weapons are "locked and loaded", ready to respond if North Korea acts "unwisely".
The Russian dollar-traded index RTS was down 1.49 percent, and ruble-traded MICEX fell 1.29 percent by midday.
Rival TripAdvisor also slumped after its latest quarterly report showed that online and transaction revenue growth fell sharply.
In currency markets, the Canadian dollar was trading at an average price of 78.71 cents USA, down 0.20 of a U.S. cent.
The Labor Department said its Consumer Price Index edged up 0.1 percent last month, which was below the 0.2 percent rise expected by economists polled by Reuters.
Focusing on United Kingdom stocks, Old Mutual was among the biggest fallers after saying it was taking a "cautious" approach to the dividend despite hiking half-year profits.
Biotechnology stocks are turning in some of the market's worst performances in morning trading, resulting in a 1.6 percent drop by the NYSE Arca Biotechnology Index.
MARKETS ABROAD: In Europe, Germany's DAX rose 0.3%, and France's CAC 40 gained 0.2%.
The Standard & Poor's 500 index fell 10 points, or 0.4 percent, to 2,463.
US crude oil futures settled almost 2 per cent lower at $48.59 a barrel, as Russian Federation considered a future output resumption and the Organization of the Petroleum Exporting Countries boosted its July production numbers.
In oil, the price of Brent crude sunk by 0.5% to 51.65 U.S. dollars a barrel amid concerns about over supply in the market. The contract fell 97 cents, or 2 per cent, to close at $48.59 a barrel on Thursday.
CURRENCIES: The U.S. dollar weakened to 110.35 yen from 110.72 yen.
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