Markets Right Now: US stocks trade lower at midday

Markets Right Now: US stocks trade lower at midday

The Standard & Poor's 500 index fell 7 points, or 0.3 percent, to 2,467. "When earnings are not beating expectations there's a sell off in the companies, and we're just not seeing that money reinvested because of the geopolitical risks".

Dai-ichi Life Holdings dropped 1 percent, T&D Holdings fell 2.2 percent while Mitsubishi UFJ Financial Group declined 0.9 percent.

The Nikkei dropped 1.3 percent to 19,738.71, the weakest closing level since May 31, but defence equipment makers attracted buyers, with Ishikawa Seisakusho soaring 5.0 percent, Howa Machinery rising 1.1 percent and Tokyo Keiki advancing 1.4 percent.

Trump further ratcheted up the rhetoric in remarks this afternoon, suggesting that his "fire and fury" comments may not have been tough enough.

Tensions between North Korea and the US have intensified in recent days after Trump warned of severe retribution should the authoritarian state proceed with any more missile tests or threats.

"Too many past administrations have kicked the can down the road and we've finally come to the end of the road where North Korea has nuclear weapons and the means to deliver them", he said. Gold rose 1.2%, while the Swiss franc was on track to post its biggest single day increase against the euro in about two-and-a-half years.

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THE QUOTE: "Risk-averse sentiment is dominating global equities markets, and US indices have retraced from record levels over the last two days". The Dow Jones industrial average slid 36.64 points, or 0.2 percent, to 22,048.70.

Stocks around the world fell sharply on Thursday and investors moved into the yen, gold and other safe-haven assets amid more aggressive talk between the United States and North Korea. The Nasdaq composite advanced 0.4% to 6,408.

"But now we're seeing increasing rather than diminishing tensions", he said. The RBNZ left rates unchanged at record lows of 1.75 percent and maintained its "on hold" guidance for monetary policy. The contract fell 97 cents, or 2 percent, to close at $48.59 a barrel on Thursday.

The Canadian dollar was trading at an average price of 78.67 cents United States, down 0.04 of a USA cent. USA gold futures for December delivery rose 0.2 percent to $1,291.80 per ounce. Brent crude, used to price global oils, gained 56 cents to $52.70 in London.

A statement by North Korea's General Staff of the Korean People's Army (KPA), also released on Wednesday, threatened to turn Seoul into a "sea of fire" if war were to break out.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.25 percent from 2.26 percent late Tuesday.

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