US stocks fall amid tension with North Korea - market wrap

09.08.2017 / 19:03

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Markets remained on cautious footing as U.S. stocks slumped a second day and haven assets pushed higher after tensions mounted between the U.S. and North Korea. Crude erased gains after inventories data.

The S&P 500 Index retreated, European equities slipped and emerging-market shares fell the most since May after President Donald Trump ratcheted up his rhetoric against North Korea. Bullion headed for its largest increase in two months while the yen and Swiss franc posted the biggest gains among G-10 currencies. The 10-year Treasury yield fell to 2.22 percent.

Meanwhile, China’s producer price gains held steady in July on surging commodity prices. The numbers came ahead of Friday’s U.S. inflation data, which will provide the next clue on the interest-rate outlook for the world’s biggest economy.

The S&P 500 Index lost 0.2 percent to 2,469.75 of 10:47 a.m. in New York. Energy firms rose the most, with crude rising amid U.S. inventory data. The Stoxx Europe 600 Index declined 0.8 percent.
The MSCI All-Country World Index sank 0.3 percent. The MSCI Emerging Market Index sank 0.9 percent, the biggest dip in almost eight weeks.

The euro declined 0.1 percent to $1.1745, the weakest in almost two weeks. The Bloomberg Dollar Spot Index decreased less than 0.05 percent. The British pound increased less than 0.05 percent to $1.2995, the first advance in a week. South Africa’s rand sank 0.7 percent to 13.4659 per dollar, the weakest in more than four weeks.

Gold surged 1.1 percent to $1,274.37 an ounce, the biggest jump in two months. West Texas Intermediate crude climbed 0.8 percent to $49.58 a barrel, the highest in a week.

Source: Bloomberg Pro Terminal

Jr Trader Ivan Ivanov

Varchev Traders

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US stocks fall amid tension with North Korea - market wrap

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