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Markets Right Now: US stocks trade lower at midday
11 Agosto 2017, 12:08 | Bibiana Flor
Stocks faded into the close Tuesday spooked by a comment from President Trump about the North Korea situation
The Dow Jones Industrial Average was down 71 points, or.32 percent, ending a 10-day streak of rises.
The dollar index fell 0.1 per cent, with the euro up 0.01 per cent to US$1.175 (RM5.04). Consumer-focused companies and technology stocks slumped.
The jitters came as Pyongyang said it was considering plans to attack the US Pacific territory of Guam - while Donald Trump threatened to react with "fire and fury".
The announcement, made in the name of a general who heads North Korea's rocket command, warned the North is preparing a plan to fire four of its Hwasong-12 missiles over Japan and into waters around the tiny island, which hosts 7,000 US military personnel on two main bases and has a population of 160,000.
North Korea immediately calledTrump's rhetoric a "load of nonsense" that was aggravating a grave situation.
Options traders gear up for Snap's second earningsreport as a public company. Futures pointed to further declines on Wall Street, with S&P 500 futures down 0.4 percent and Dow futures falling 0.3 percent.
In the wake of the USA and North Korea tension Wall Street, Asian markets and European markets have all closed in red territory. "As long as it doesn't go beyond just a war of words, this is going to be short-lived". The Nasdaq composite fell 45 points, or 0.7 percent, to 6,324. It was last up 1.2 percent at 1.1305 per euro.
In UK stocks, Worldpay Group was among the biggest risers after the firm agreed a £9.3bn merger deal with United States rival Vantiv in a tie-up that will create a global payments processing giant with a combined value of £22.2bn. Its shares tumbled $11.25 to $62.09.
About 6.48 billion shares changed hands on US exchanges on Wednesday compared with the 6.16 billion average for the last 20 sessions. Fifteen of the Dow's 30 stocks ended higher, led by Home Depot and Travelers' 1.2% rallies.
Steel and copper prices stayed strong in metals markets.
Benchmark 10-year notes last rose 5/32 in price to yield 2.2255%, from 2.242% late on Wednesday.
OIL: The price of oil gave up early gains.
-North Korea tension also weighed on the Canadian dollar, which weakened against its USA counterpart, despite higher oil prices and stronger-than-expected domestic housing data. Brent crude, used to price global oils, gained 40 cents to $52.54 in London.
Spot gold added 1.2 per cent to US$1,275.60 an ounce. Copper fell 2 cents to $2.90 a pound.
At 5 p.m., the dollar stood at ¥109.81-82, down from ¥110.57-58 at the same time Tuesday.
Sterling slid against the dollar below the $1.3000 mark.
MARKETS OVERSEAS: Major indexes in Europe slumped. Sony Corp. shares in Tokyo dropped 1.6 percent.
The dollar index was trading 0.2 percent up at 93.73.
The S&P/TSX composite index was down 39.02 points to 15,217.33, with most sectors finishing in the red while bullion stocks surged almost 1.9 per cent. Monthly, the same figure fell 0.5% coming in well below expectations of a 0.3% gain.
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The Dow Jones industrial average broke a 10-day streak of record highs on Tuesday, closing down by 0.2%, or 33 points. Pyongyang said it was examining plans for attacking Guam, a USA territory in the Pacific that has a US military base.
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