Stock markets in Asia, Europe fall on rising unease over North Korea

Federal Hall's George Washington statue stands near the

The strength on Wall Street was partly due to bargain hunting, with traders picking up stocks at reduced levels following the pullback seen over the past few sessions. Major U.S. indices had posted record highs in recent weeks. Titled "Reckless game over the Korean Peninsula runs risk of real war", the editorial suggested China will stay neutral if North Korea strikes first, but will intervene if the U.S.is the first mover.

"Both (PPI measures) were well below consensus and give us no hope that consumer price inflation is going to materially beat expectations", said Chris Weston, chief market strategist at IG Markets. TMX Group Ltd was up 3.5 percent to C$68.23, while Quebecor Inc added 2.9 percent to C$44.60. Major stock indexes across Europe and Asia also posted weekly declines.

"Armenpress" reports the value of Dow Jones down by 0.93% to 21844.01 points, S&P 500 down by 1.45% to 2438.21 points, Nasdaq down by 2.13% to 6216.87 points. Japan's Nikkei 225 Index edged down by 0.1%, while Hong Kong's Hang Seng Index tumbled by 1.1%. It has been the leading S&P gainer so far this year, making it particularly vulnerable to a decline.

S&P 500 e-minis were down 10.25 points, or 0.41 percent, with 217,904 contracts traded.

Tensions between the US and North Korea continued to simmer early Friday.

Global stock markets ended their worst week in months amid rising tensions between the US and North Korea, though USA stock indexes steadied on Friday to close up slightly.

KOREA JITTERS: With President Donald Trump warning North Korea of "fire and fury", investors have become concerned that the war of words between Washington and Pyongyang could escalate.

Trump Welcomes New Sanctions On North Korea
In the face of Saturday's United Nations sanctions, North Korea remained defiant, saying the UN's move was unwarranted and unfair. Along with stopping the missile launches, North Korea would have to quit its nuclear weapons testing, he said recently.

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Global stocks shudder on Trump warnings to North Korea
South Korea's KOSPI fell 1.7 percent to its lowest since May 24, but its losses for the week are a relatively modest 3.2 percent. Wilmar International slipped 6.4 per cent or 22 cents to $3.20; Hongkong Land lost 2.1 per cent or 16 U.S. cents to US$7.34.

That prompted North Korea to say it was considering firing missiles near Guam, a U.S. Pacific island territory. The stock fell another 2 cents, or 0.4%, to 5.12 Friday. It's still the highest it's been since May.

Separately, U.S. producer prices unexpectedly fell in July, recording their biggest drop in almost a year, weighed down by declining costs for services and energy products. The VIX rose further on Wednesday, rising as far as 12.11, its highest in nearly a month. The Federal Reserve, which raised its key interest rate in March and June, has signaled it plans a third rate hike before the end of this year.

Technology companies, which suffered the brunt of the selling a day earlier, were back in the lead Friday.

Canadian Tire Corp Ltd rose 3.4 percent to C$146.65. The contract fell 97 cents, or 2 percent, to close at $48.59 a barrel on Thursday. Seagate shares rose 74 cents to $32.29.

Burger chain Wendy's was up 4.20 per cent after it reported better-than-expected quarterly profit and sales.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.19 percent from 2.20 percent late Thursday.

Gold for December delivery was recently up 0.9% at $1,290.70 a troy ounce on the Comex division of the New York Mercantile Exchange, the highest level since June 8.

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