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Global Stocks Poised for Weekly Declines

12 August 2017, 10:46 | Joann Bryant

Global Stocks Poised for Weekly Declines

Global Stocks Poised for Weekly Declines

The Weekly Standard reported Wednesday that the White House, including the president's national security team, did not help Trump prepare his remarks on North Korea, which were delivered ahead of a meeting on the opioid crisis in the US and prompted by new reports that North Korea has escalated its nuclear program. 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.

"I will tell you this, North Korea better get their act together or they're going to be in trouble like few nations ever have been in trouble in this world", Trump said.

Efforts by the United States to dial down rhetoric have failed to shift the bearish mood among investors.

Mattis said North Korea must stop isolating itself and "stand down" in its pursuit of nuclear weapons, and Pyongyang "should cease any consideration of actions that would lead to the end of its regime and the destruction of its people". North Korean state media has stated that Pyongyang now plans to fire a number of missiles, over Japan and towards the US Pacific territory of Guam. He said that North Korea "can be very very nervous" if it acts on either the U.S. or its allies, and warned that "things will happen to them like they never thought possible".

'Traders are on red alert as the mention of war has sent them running for cover. Major indexes in Asia closed lower.

The Dow closed down 205 points Thursday, in its biggest decline since May 17, after U.S. President Donald Trump rejected criticism that his threats to release "fire and fury" had been too inflammatory.

Tokyo's Nikkei index had dropped 1.3% by the time European stock markets opened on Wednesday morning, with similar falls on the German and French bourses. Wall Street was poised for a soft opening with S&P futures and Dow futures both down 0.2 percent.

A Reuters Datastream index of more than 7,000 stocks across the globe saw its market capitalisation drop from a record high $61.36 trillion on Monday to $60.43 trillion at the close on Thursday.




"There's a lot of unknowns out there; we're past the good news of earnings", he said.

The statement has dominated the headlines, and is one of the main drivers in the markets.

Paris stocks endured a torrid session to end 1.4 per cent down after a suspected terror attack in France. "There are four more (inflation) prints between now and the December FOMC meeting and we expect the Fed to remain data-dependent, if a touch more cautious", TD Securities said in a note. The VIX Index - commonly called the fear gauge - jumped to close at its highest level since the USA election.

Australian shares were down 1.5 percent, set for a weekly loss of 0.8 percent.

Korea's Samsung Electronics fell 2.8% Friday.

Gold added $16.70, or 1.3 percent, to settle at $1,279.30 an ounce.

The yield on US 10-year Treasurys slid to 2.199% Friday from 2.211% Thursday.

OIL: Benchmark U.S. crude lost 24 cents to $48.37 per barrel on the on the New York Mercantile Exchange while Brent crude, used to price worldwide oils, declined 20 cents to $51.70 per barrel in London.



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