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FTSE Slips on North Korea Fears

12 August 2017

Blue Apron slumped as much as 19.1 percent to a record low after the meal-kit delivery service provider reported a bigger-than-expected loss in its first quarterly report as a public company.

On Friday basic resource stocks dropped 2.6 percent to a month low as metal prices fell.

MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.77 percent, on track for its third straight day of declines as it pulled further back from all-time highs. The Nasdaq composite lost 135 points, or 2.1 percent, to finish at 6,217.

The Korean won KRW=KFTC also continued to skid, sliding 0.3 percent to 1,145 won to the dollar, after earlier sinking to its lowest level in a month.

Overnight, Wall Street closed sharply lower after Trump, with fiery rhetoric, warned Pyongyang against attacking Guam or United States allies after it disclosed plans to fire missiles over Japan to land near the U.S. Pacific territory.

US stocks slip amid heightened US-North Korea tensions
ENERGY: Benchmark U.S. crude added 1 cent to $49.18 per barrel in electronic trading on the New York Mercantile Exchange. In Europe, equities dived with London losing 0.6 percent, while Frankfurt shed 1.1 percent and Paris fell 1.4 percent.

He doubled down on those remarks on Thursday, suggesting that perhaps his rhetoric wasn't harsh enough. In order to determine the latter, many additional factors need to be considered (i.e. sentiment, chart patterns, cycles, indicators, ratios, self-similar patterns and more) and we are taking them into account (and discussing the short- and medium-term outlook) in our trading alerts.

Meanwhile, the dollar index, which tracks the dollar against a basket of six major currencies, slipped on the back of weaker-than-expected USA producer prices.

In Europe, the Stoxx 600 Index ended the session with a drop of 0.7 percent from the previous close.

The VIX closed 1.4 per cent higher but at the lowest level of the day at 11.11, after rising as high as 12.63. The Dow Jones industrial average fell 0.93 percent, with the tech-heavy Nasdaq composite index declining 2.13 percent.

The recovery fit a recent pattern of investors using dips to put more money in stocks. These mark a bucking against the 1.3% fall in Australia's benchmark index.

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Analysts said yields, which move inversely to prices, could fall further if the geopolitical tensions continue to rise - even if central bankers in the USA continue to talk of raising interest rates or scaling back stimulus programmes.

-North Korea tensions and the weak data that further reduced expectations of an interest rate hike in December.

Silver added 0.4% to $17.15 USA per ounce after hitting $17.24, its highest since June 14, in the previous session.

Data showed USA producer prices unexpectedly fell in July, recording their biggest drop in almost a year, while another set showed the number of Americans filing for unemployment benefits unexpectedly rose last week.

Oil prices fell during the Asian session despite an updated forecast from OPEC showing that demand could increase by around 200,000 barrels a day for the next two years.

Guam adviser urges calm after North Korea threat
Patrons packed local restaurants, barely glancing at televisions bearing news of Pyongyang's latest threat against their homeland. Trump tweeted Friday: "Military solutions are now fully in place, locked and loaded, should North Korea act unwisely".

Vietnam shares fell 2.3 per cent, their most in nine months, dragged down by financials and consumer staples. Britain's FTSE 100 sank 1.4 percent.

FTSE Slips on North Korea Fears