North Korea Tensions Hit Global Stock Markets

People walk past an electronic board showing Japan's Nikkei average outside a brokerage at a business district in Tokyo Japan

People walk past an electronic board showing Japan's Nikkei average outside a brokerage at a business district in Tokyo Japan

USA stocks rose Friday but still notched their biggest weekly loss in months, as investors were shaken by disappointing earnings results and an escalation of threats between the US and North Korea.

Simmering tensions between the U.S. and North Korea have come back to the boil in recent days after Pyongyang disclosed plans to fire missiles over Japan to land near America's Pacific territory of Guam.

North Korea had responded to Trump's previous promise to unleash "fire and fury" with a threat to land a missile near the U.S. Pacific territory of Guam.

In more back-and-forth between President Trump and North Korea, Pyongyang General Kim Rak Gyom, leader of the country's strategic forces, said that "sound dialogue is not possible with such a guy bereft of reason and only absolute force can work on [Trump]".

After touching a more than two-month high, spot gold last added 0.1 percent to $1,287.18 an ounce.

The Dow Jones Industrial Average ended down 33.08 points, or 0.15 per cent, at 22,085.34, snapping a 9-day streak of closing records. The Russell 2000 index gave up 24.40 points, or 1.8 percent, to 1,372.54.

Selling was broad. Declining issues outnumbered advancing ones on the NYSE 6-to-1; on Nasdaq, a 3.60-to-1 ratio favoured decliners.

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The broad-based Stoxx Europe 600 stock index dropped 0.5 percent in early trading, with key indices, such as Britain's FTSE 100, Germany's DAX and France's CAC all down 0.5 percent or more. Macy's slumped 10 percent after reporting its 10th straight decline in a key sales measure.

Bond prices rose. The yield on the 10-year Treasury fell to 2.20 percent.

"This inflation data for the month was not good".

Friday's report was the latest in a string of lackluster inflation readings, which have surprised many investors who had entered the year betting on an upsurge in economic growth and inflation.

"Given the great run we've had, seems like some sort of pullback wouldn't be surprising", said Michael Baele, managing director of investments at U.S. Bank Private Wealth Management.

However, Federal Reserve Bank of New York President William Dudley suggested on Thursday that the central bank was on track to raise interest rates once more as he expects sluggish inflation to rise over the next several months. On Thursday, fellow newly public company Blue Apron Holdings lost 18% after the meal-kit maker reported rising costs amid increased competition.

Perrigo surged 17.6 percent after the drugmaker raised its full-year adjusted profit forecast.

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