President Trump took to Twitter early Friday issuing yet another stark warning to North Korea that the United States' military was "locked and loaded", and urged the rogue regime's dictator to "find another path".
US markets close weak amid US-North Korea tensions
Pyongyang, which has threatened to fire missiles toward the US Pacific island territory of Guam, gave more details of its plans. Considerable weakness was also visible among tobacco stocks , as reflected by the 1.2% drop by the NYSE Arca Tobacco Index.
Trump said earlier this week the USA would unleash "fire and fury" on North Korea if it continued to threaten the US and then said his rhetoric might not have been harsh enough. Australian Prime Minister Malcolm Turnbull said today his government would back the US if North Korea attacked. Japan moved missile interceptors into position after the Guam threat, the Nikkei newspaper reported.
But the president's rhetoric appeared to have little effect, with North Korean state media quoting Kim as calling Trump "bereft of reason" and talking a "load of nonsense". However, if even one missile gets through, Pyongyang will have the advantage.
Dollar hits eight-week low vs. yen, North Korea tensions spook investors
The latest sell-off was the most severe yet, amounting to the biggest single-day drop for the stock market in almost three months. Unease over the situation pushed the VIX, a measure of how much volatility investors expect in stocks, up 44.4 percent.
Tensions between the two countries have escalated these weeks after North Korea tested two inter-continental ballistic missiles (ICBMs) in July.
"China hopes that related parties will speak and act with caution, doing more to alleviate the tense situation and enhance mutual trust", Foreign Ministry spokesman Geng Shuang said in a statement on Friday. Japan announced its surrender August 15, 1945. -South Korea military exercises will continue.
Stock Highlights on Manitowoc Company (MTW)
Finally, Royal Bank Of Canada reiterated a "hold" rating and issued a $6.50 price target on shares of Manitowoc Company, Inc . The investment managers in our partner's database reported: 100.53 million shares, up from 100.49 million shares in 2016Q3.
Meanwhile, China urged Washington and Pyongyang to calm but warned through Global Times that Beijing will remain neutral if the USA is attacked and decides to launch a counterattack.