Thursday, 10 August 2017

Markets fall as N Korea threatens strike on US

Markets fell on Wednesday.

The S&P 500 fell less than 0.1 percent, the STOXX Europe 600 fell 0.7 percent and the Nikkei 225 fell 1.3 percent.

Markets fell after North Korea threatened a missile strike on the US territory of Guam.

“Definitely the primary reason stocks are down is geopolitical tensions,” said JJ Kinahan, chief strategist at TD Ameritrade.

“A war is still far from erupting but given recent gains and pricey valuation, prudence suggests it’s best to capitalize on the rising geopolitical tension by taking some money off the table,” said Jonathan Ravelas, chief market strategist at Manila-based BDO Unibank Inc.

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