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vegassports-odds.com October 20, 2017


Dow plummets 205pts as Trump inflames Korea tension

13 August 2017, 01:22 | Melvin Schneider

S&P falls 1.4 percent in safety flight on North Korea tensions

Trade Center left and 7 World Trade Center in New York. Technology companies were leading a broad slide in U.S. stocks in early trading Thursday Aug. 10 2017 as investors pored over

Wall Street saw a stock sell-off on Thursday as rising tensions between the US and North Korea filled investors with worry. On Thursday, the Dow Jones index dropped 0.9 percent, or 204,69 points, to 21 844,01.

Selling was broad. Declining issues outnumbered advancing ones on the NYSE 6-to-1; on Nasdaq, a 3.60-to-1 ratio favored decliners.

Oil prices nudged lower with global benchmark Brent crude down 0.31%, and USA benchmark West Texas Intermediate down 0.45% recently extending Thursday's selloff following an OPEC report which said the cartel's July production rose 0.5% from June.

U.S. President Donald Trump told reporters at his golf club in Bedminster, New Jersey, on Thursday that he will respond forcefully to any North Korean attack on the U.S. or its allies. The Russell 2000 index gave up 24.40 points, or 1.7 percent, to 1,372.54.

USA government bonds strengthened Friday as soft inflation data led investors to further scale back expectations for interest-rate increases from the Federal Reserve.

Ryu Yong-seok, a market analyst at KB Securities Co., said tensions between North Korea and the United States are partly to blame for the decline in the main index.

The strength on Wall Street is partly due to bargain hunting, with traders picking up stocks at reduced levels following the pullback seen over the past few sessions.

Market bellwether Samsung Electronics Co. backtracked 2.79 percent to 2,231,000 won, and No. 2 chipmaker SK hynix Inc. was down 4.66 percent to 61,400 won.

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Gold prices posted strong weekly gains (http://www.marketwatch.com/story/gold-heads-for-strong-weekly-gain-as-stock-market-exit-persists-2017-08-11) thanks to safe-haven demand. The stock fell $1.01 to $22.02.

FINANCIALS FALLING: Several financial sector companies also helped pull down the market.

Kohl's, another department store chain, slumped 8.9 percent after reporting that second-quarter sales dipped 0.9 percent compared with the year-ago period. Kohl's like Macy's did beat estimates for earnings and revenues while Dillards delivered a loss of 58 cents per share as a result of deep discounting to shed inventory. Economists had expected prices to rise by 0.2 percent.

OIL: Benchmark U.S. crude gained 13 cents to $49.69 a barrel on the New York Mercantile Exchange.

CURRENCIES: The dollar slipped to 109.48 yen from 109.85 late Wednesday.

Gold added $10.80, or 0.8 percent, to settle at $1,290.10 an ounce. Australia's S&P/ASX 200 edged down almost 0.1 percent.

In Asia, the Nikkei was flat, while Hong Kong's Hang Seng fell 1.8 per cent and the Shanghai Composite finished 1.6 per cent lower.



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