Korea tensions cast long shadow over markets

Paterniano Del Favero
Agosto 13, 2017

European markets registered their worst weekly loss this year on Friday amid rising tensions between U.S. and North Korea.

The FTSE 100 closed down 80 points yesterday at 7,309.96.

Asian regional stock markets took a pounding.

A statement attributed to North Korea's head of strategic forces, General Kim Rak Gyom, said the plan for the strike would be ready by the middle of the month and would await orders from leader Kim Jong-un. The index, which hovered below record highs this week, has slipped more than 3 per cent since Mr Trump said on Tuesday that the United States would unleash "fire and fury" if Pyongyang continued to issue threats. "North Korea responding with a threat to USA territory after Trump warned them not to threaten the US was never going to go down well", Lawler said.

'Stock markets in Europe are still under pressure because of the heightened tensions surrounding North Korea, ' said David Madden, market analyst at CMC Markets UK. In a tense situation like this, equity markets can move lower exceptionally fast, and investors don't want to be caught on the wrong side of the markets, so they are getting out now'.

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