Economy

Wall Street swings lower on North Korea fears

Wall Street swings lower on North Korea fears”

The yellow metal headed for its largest gain this month while the yen and Swiss franc were the biggest advancers among G-10 currencies after President Donald Trump ratcheted up his rhetoric against North Korea.

Excessive fears surrounding North Korea seemed to have receded, traders say, but activity was subdued with Japanese markets closed on Friday. "And we saw that as it came out of the U.N. Security Council with the resolution that passed less than a week ago". The Kuala Lumpur Composite Index now rests just beneath the 1,780-point plateau and it may take further damage on Thursday.

Gold added $16.60, or 1.3 percent, to settle at $1,273.00 an ounce.

Shares of health care equipment and services company Henry Schein Inc. declined amid a broader slide by health care stocks. The yield - or interest rate - on a benchmark 10-year US Treasury bill dropped to 2.24%, while a 10-year German bund was yielding 0.43%.

The major stock indexes reversed lower Tuesday, but damage was minimal, after a quote from President Trump about the North Korea situation rattled markets.

The dollar index fell 0.1 per cent, with the euro up 0.01 per cent to US$1.175 (RM5.04).

Disney dropped 3.9 percent, its biggest single-day loss in more than a year.

Franco Nevada Corp rose 3.9 percent to C$95.65, while Barrick Gold Corp was up 1.9 percent at C$21.26.

In Asia, most stock indexes were pressured as geopolitical tensions re-entered the spotlight on Wednesday and China consumer inflation missed expectations.

Asian stocks steadied and US Treasury bond prices fell slightly on Thursday as the risk aversion triggered by tensions between the United States and North Korea began to settle.

His comments came after The Washington Post reported that North Korea has successfully produced a miniaturized nuclear warhead that can fit inside missiles, citing a confidential USA assessment.

The bombing of Pearl Harbor, for instance, resulted in a 3.8 percent drop in the S&P 500 on December 7, 1941.

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 price of oil was also 0.3% ahead at 52.29 U.S. dollars a barrel, with stockpiles coming under pressure from falling crude oil imports and record processing at American refineries.



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