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Stocks Fall for Third Straight Day as North Korea Tensions Percolate

11 August 2017

The US dollar slipped to an eight-week low against the Japanese yen today as continuing tensions between the United States and North Korea led investors to look for assets viewed as less risky.

The VIX, a measure of how much volatility investors expect in stocks, jumped 10.4 percent. M stock is now down 0.4% to trade at $23.43, asthe company prepares to report earnings tomorrow.

Wall Street stocks posted their biggest declines in almost three months on Thursday (Aug 10) as President Donald Trump doubled down on his warnings to North Korea over its nuclear programme.

- Global stock prices slid Wednesday after President Donald Trump and North Korea traded threats over the North's nuclear program. "As long as it doesn't go beyond just a war of words, this is going to be short-lived".

Donald Trump's response to the North Korea situation has not been particularly calm
Donald Trump's response to the North Korea situation has not been particularly calm

A Labour Department report showed its producer price index posted a surprise drop in July, down 0.1 percent for the largest slide in nearly a year.

The Dow finally ended 0.2 percent lower at 22,085.34 points.

KEEPING SCORE: Germany's DAX fell 0.7 percent to 12,068 and the CAC 40 of France lost 0.3 percent to 5,133.

Small-company stocks fell more than the rest of the market Wednesday. The market is looking for crude stocks to have fallen by -2.7m barrels and gasoline by -1.5m barrels. All the indexes are down for the week.

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The euro, which hit its highest since the start of 2015 on August 2, dipped 0.2 percent to $1.1753 in early trade in Europe.

The stage was set for the US indexes to go lower early Wednesday as investors around the world reacted to the rising war of words between the USA and North Korea, pushing global market indexes lower.

Markets began to tumble Tuesday after President Trump promised North Korea will face "fire and fury like the world has never seen" if the country continues to threaten the US.

Hours later, North Korea responded by saying it is seriously considering a missile strike on the Pacific island of Guam, home to a U.S. military base.

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"Tensions between North Korea and the United States are likely to have a negative impact on the main index", Kim said. This in turn brought fresh condemnation in from Japanese and Korean officials.The geopolitical tensions saw more profit-taking in equities. "I don't see it as a fear-driven sell-off".

Michael Kors Holdings Ltd. climbed 21.5 percent after the luxury handbag and apparel designer and retailer's latest quarterly results beat analysts' forecasts as sales improved. They outweighed gains in health care stocks and elsewhere. MetLife fell 75 cents, or 1.6 percent, to $47.56, while Charles Schwab slid 69 cents, or 1.6 percent, to $41.33.

On the currency markets, the pound was down to a three-week low against the USA dollar but mainly due to earlier disappointing output and trade data.

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Stocks Fall for Third Straight Day as North Korea Tensions Percolate