US stocks slide amid heightened US-North Korea tensions

Escalating US-North Korea tensions hit markets

Escalating US-North Korea tensions hit markets

The major index futures are now pointing to a modestly higher open for the markets, with the Dow futures up by 21 points.

TECH SLIDE: Losses among technology stocks led the market slide.

The latest tensions began after U.S. President Donald Trump on Tuesday warned North Korea that it would face "fire and fury" if it threatened the United States.

"I will tell you this, North Korea better get their act together or they're going to be in trouble like few nations ever have been in trouble in this world", Trump said. The slide deepened after Trump's remarks on North Korea aired.

With Japan and South Korea also warning North Korea, investors are taking a step back to see what is happening before chipping in back, Bakhos said. "Hopefully Kim Jong Un will find another path!"

On the US economic front, a report released by the Labor Department showed a modest uptick in consumer prices in the U.S.in the month of July. Wall Street was poised for a soft opening with S&P futures and Dow futures both down 0.2 percent.

A Labor Department report showed its producer price index posted a surprise drop in July, down 0.1% for the largest slide in nearly a year. Australia's S&P/ASX 200 edged down almost 0.1 percent. Its rouble-based peer MICEX shed 1.2 percent to 1,937 points, its lowest since August 1.

The major averages ended the session just off their worst levels of the day.

The S&P 500 index dropped 35.81 points to 2,438.21, while the Nasdaq composite index slid 135.46 points to 6,216.87.

The rhetoric, which began late Tuesday and continued into Friday, cracked the calm that has enveloped the market for months and interrupted stocks' march higher. The Nasdaq composite lost 18 points, or 0.3 percent, to 6,352.

THE QUOTE: "Inflation - or lack of - has been an ongoing problem for the central bank and some policy makers have voiced concerns about this in recent months as they consider whether to raise interest rates again this year", said Craig Erlam, senior market analyst at OANDA. The Russell 2000 index of smaller-company stocks gave up 13.20 points, or 0.9 percent, to 1,396.95.

The price of crude oil dropped more than two percent Thursday, the cost of a barrel falling to $48.49. Meanwhile, after jumping $10.80 to $1,290.10 an ounce in the previous session, gold futures are climbing $6.50 to $1,296.60 an ounce.

OIL: Benchmark U.S. crude lost 24 cents to $48.37 per barrel on the on the New York Mercantile Exchange while Brent crude, used to price worldwide oils, declined 20 cents to $51.70 per barrel in London. Against the euro, the dollar is valued at $1.826 compared to yesterday's $1.1772.

Recommended News

  • Market Vectors Gold Miners ETF (GDX) Sees Significant Increase in Short Interest

    VanEck Vectors ChinaAMC China Bond ETF (:CBON) performed nicely this week, continuing its impressive near-term upward movement. The Aroon Oscillator was developed by Tushar Chande to highlight the start of a new trend and to measure trend strength.

    FDA Advises Against Taking PharmaTech Liquids Due to Threat of Bacterial Contamination

    Rugby Laboratories began recalling two PharmaTech oral liquid docusate products on August 3: Diocto Liquid and Diocto Syrup. Consumers can contact their physician or healthcare provider if they have additional questions about this product.

    EU acabaría con Corea del Norte en media hora sin armas nucleares

    El experto indicó que la retórica del presidente estadounidense Donald Trump es "por naturaleza, grandilocuente y conflictiva". Según él, Trump "ya lo ha hecho antes con Corea del Norte, y luego ha retrocedido".
  • ASEAN Calls on North Korea to Halt Missile, Nuclear Tests

    ASEAN Calls on North Korea to Halt Missile, Nuclear Tests

    The group also defended the Kim Jong Un regime's development of nuclear weapons, calling the policy a "fair and square" decision. China is providing a welcome boost to the global campaign to pressure North Korea to halt its missile and nuclear tests.
    Warner Channel transmite los Teen Choice 2017 — VENEZUELA

    Warner Channel transmite los Teen Choice 2017 — VENEZUELA

    Warner Channel recibe a los Teen Choice en su pantalla con destacadas nominaciones de sus series insignia. El evento se transmitirá este domingo 13 de agosto a las 19:00 horas por Warner Channel.
    Iran, UN call for political solution to Yemeni crisis

    Iran, UN call for political solution to Yemeni crisis

    The two sides also exchanged views on new ideas for create openings in the current political deadlock. The UN envoy arrived in Tehran on Saturday to discuss the Yemeni conflict with Iranian officials.
  • India reach 329/6 at stumps vs Sri Lanka

    India reach 329/6 at stumps vs Sri Lanka

    After the rain leading up to the Test, Saturday dawned bright and sunny and Virat Kohli had little hesitation in choosing to bat. But this one Sandakan pushed a bit wider, Kohli stretched but only managed to edge it to Dimuth Karunaratne at first slip.
    Accidente, Pinto cae en avioneta

    Accidente, Pinto cae en avioneta

    No hubo explosión después del golpe con el suelo . "Tenía múltiples heridas, pero su situación era estable", dijo a G1 Mayor bomberos Juliano Borges.
    Global Stocks Selloff Stops at Wall Street; Gold, Yen Tick Up

    Global Stocks Selloff Stops at Wall Street; Gold, Yen Tick Up

    Investors instead turned to safe-haven assets such as gold , pushing it to a two-month high, and the Japanese yen JPY= rose. According to the Associated Press, South Korea's Kospi lost 1.7 percent, while Hong Kong's Hang Seng slid 2 percent.
  • Nike retiraría patrocinio a Rafa Márquez

    Nike retiraría patrocinio a Rafa Márquez

    En el 2016, Manny Pacquiao emitió comentarios homofóbicos y esta acción orilló a la firma a romper su relación con el boxeador. En ese mismo año, María Sharapova se quedó sin el patrocinio por su dopaje en el Abierto de Australia.
    Police helicopter crashes in Charlottesville, killing two people on board

    Police helicopter crashes in Charlottesville, killing two people on board

    Police eventually broke up the violence and declared the rally an unlawful assembly before it officially started. The seething hatred among the rioters in Charlottesville is frightening and painful to witness.

    Euro Falls Amid Risk Aversion On Trump's Comments

    The market was waiting f or USA consumer inflation data on Friday that would offer more clues about future Fed decisions. The 30-year bond last rose 5/32 in price to yield 2.8107 per cent, from 2.818 per cent late on Wednesday.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.