North Korea Has Markets Nervous But Not Panicked

North Korea Has Markets Nervous But Not Panicked

North Korea Has Markets Nervous But Not Panicked

US Defense Secretary Jim Mattis, who often has emphasized the devastating costs of any conflict with North Korea, seemed to back up Trump's tone.

Bond prices, which move inversely to yields, closed higher.

The Standard & Poor's 500 index dropped 35.81 points, or 1.5 percent, to 2,438.21.

Dow e-minis were up 6 points, or 0.03 percent, with 29,187 contracts changing hands at 8:34 a.m. ET (1234 GMT). The Nasdaq lost 135 points, or 2.1 percent, to 6,216.

The CBOE Volatility Index (VIX - 11.11) gained 0.2 point, or 1.4%.

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NEW YORK, Aug 11 (Reuters) - Wall Street put a floor under global equities on Friday after a weak inflation reading brought investors back into US technology and other stocks, but gold and the yen still added slightly to the week's gains as tensions continued to escalate between North Korea and the United States.

Politics lifted U.S. defense stocks.

"Today's inflation data put the Fed on pause and really diminishes the fact that there's still some noise going around with the North Korea-U.S. situation", said Phil Blancato, CEO of Ladenburg Thalmann Asset Management.

Most large-cap stocks fell across the board. Travel-review website operator TripAdvisor (TRIP.O) was down 2.7 percent. Advanced Micro Devices gave up 38 cents, or 3 percent, to $12.45.

Macy's shares closed down 10.2 percent and Kohl's fell nearly 6 percent as the companies continued to report a drop in quarterly same-store sales, stoking concerns that their turnarounds may still be a long way off.

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MANILA, Philippines (AP) — The Latest on developments on efforts to ratchet up pressure on North Korea over its nuclear program. Tillerson is offering his most specific outline to date of what preconditions the USA has for talks with Pyongyang.

The hope that the Fed will have to slow its rate-hike path appeared to stop, at least for now, the near $1-trillion loss in world stocks valuations this week triggered by the war of words between Pyongyang and Washington. Dillard's slumped 15.9 percent after the chain booked a loss for the second quarter as increased inventory led to big discounts. Its shares tumbled $10.14 to $63.20. Kohl's also declined, giving up $2.43, or 5.8 percent, to $39.50.

Dow member Disney dropped 3.9 percent as it reported flat third-quarter revenues due in part to weakness in its cable subscription business.

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 global oils, declined 20 cents to $51.70 per barrel in London. Brent crude, used to price worldwide oils, rose 20 cents to $52.10 a barrel in London.

OIL: Benchmark U.S. crude added 27 cents to $49.44 a barrel on the New York Mercantile Exchange. Brent crude, used to price global oils, gained 16 cents to $52.30 in London.

The dollar slipped to 109.04 yen from 109.26 late Thursday. The euro rose to $1.1774 from $1.1752.

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In Europe, Germany's DAX fell 1.1 percent, while the CAC 40 in France lost 0.6 percent. It rose $16, or 1.3 percent, to $1,278.60 an ounce. Hong Kong's Hang Seng dipped 1.1 percent to 27,444.00.

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