US stocks slip amid heightened US-North Korea tensions

Posted August 13, 2017

One can buy with a stop loss below Rs 28,250.

"The slight bias to the upside (in stocks) is a result of the CPI number".

Grant Williamson, director at Hamilton Hindin Greene, said today's selling was based on the offshore leads, but is also an excuse for investors to take some profits from the local market which has been hitting record highs.

Minneapolis Fed President Neel Kashkari, who has advocated for the Fed to halt interest rate hikes until inflation picks up gain, on Friday said his colleagues are telling each other "a ghost story (http://www.marketwatch.com/story/feds-kashkari-says-central-banks-hawks-are-spooked-by-ghost-story-of-higher-wages-2017-08-11)" about higher wage inflation that scared them into raising short-term rates.

Analysts pointed to the harsh threats and sabre rattling from US President Donald Trump, including a message Wednesday on Twitter boasting that the US nuclear arsenal was now "more powerful than ever before".

Trump said his earlier pledge to unleash "fire and fury" on North Korea may not have been tough enough, after Pyongyang's state run news agency said earlier it would complete plans in mid-August to fire four missiles to land near Guam.

WALL STREET: Investors' unease over such escalating tensions weighed on stocks earlier in the day, although that settled by the end of the day.

"There's not a great incentive to buy big", said Lerner of SunTrust Advisory. The Dow slumped 204.69 points or 0.9% to 21,844.01, the Nasdaq plummeted 135.46 points or 2.1% to 6,216.87 and the S&P 500 tumbled 35.81 points or 1.5% to 2,438.21. The euro was last trading at $1.1733 and was also down on the day against the yen and the pound at 128.61 yen and 0.9023 pounds.

The S&P 500 volatility index jumped again on the latest jawboning in the US-North Korea standoff.

The Nasdaq is down 134.69 points, or 2.1 percent.

"We're getting close towards very important support on the dollar/yen", said Steven Dooley, currency strategist for Western Union Business Solutions in Melbourne.

Jadeja suspended for Pallekele Test
Jadeja and Ashwin, who had shared seven wickets between them in the first innings, continued hitting the right lengths and lines. Sri Lankan bowlers found it very hard to bowl against Indian class batsmen and also failed to put any kind of pressure on them.

The index was showing signs of Greed just two days ago while the Dow was in the midst of a winning streak that included nine straight record highs.

The precious metal is usually seen as a safe haven to investors at a time of geopolitical uncertainty.

The Dow Jones Industrial Average rose 14.31 points to close at 21,858.32.

U.S. Treasury long-dated yields dropped to six-week lows, pressured by U.S.

Japan's benchmark Nikkei 225 slipped 0.2 percent to 19,705.96.

Sterling was last trading at $1.3007, up 0.25 percent on the day.

Commodity bloc currencies are typically sensitive to swings in market mood and proved to be so against, with the Australian Dollar leading the way lower having been stung by disappointing consumer confidence data.

The recent resilience of data on the USA economy has not dampened the latest climb, despite depressing prices earlier in the week as reports returned high employment figures ahead of further United States inflation information this week.

It was also down a whopping 4.65 percent from July 25, when the key index reached an all-time high of 2,453.17. Its weekly gain of 2.6 percent is the largest since June 2016.

US Defense Secretary Jim Mattis, who often has emphasized the devastating costs of any conflict with North Korea, seemed to back up Trump's tone.

USA crude was down 0.9 percent at $48.16 per barrel, on track for a weekly loss of 2.9 percent.