USA yields slide as North Korea tensions stir safe-haven bid
Aug 10 2017
Gold enjoyed an impressive single-day jump - its biggest in almost three months - as the rising tensions between the US and North Korea lifted safe-haven demand.
Elsewhere, French conglomerate Vivendi saw its stock fall 2.1 percent in the morning hours, while Italy's Mediaset dropped only 0.3 percent.
The S&P 500 .SPX lost 5.99 points, or 0.24 percent, to close at 2,474.92 and the Nasdaq Composite .IXIC dropped 13.31 points, or 0.21 percent, to 6,370.46.
The tough talk came amid reports that North Korea had developed technology to miniaturize a nuclear warhead that could be placed in a intercontinental ballistic missile.
North Korea seemed unfazed by the president's bluster, however, as state media carried a statement indicating the communist nation is "carefully examining" a plan to strike the U.S. Pacific territory of Guam.
The continued weakness on Wall Street reflects geopolitical concerns amid a continued increase in tensions between the USA and North Korea.
In the Dow, declines in shares of Merck and DuPont, down 0.9% and 0.8% respectively, outweighed gains in shares of Apple and Microsoft, up 1.3% and 0.7% respectively.
Technology and consumer-focused companies helped lift USA stocks higher Tuesday, steering the market indexes further into record territory. Energy stocks fell along with crude prices as investors kept an eye on the latest company earnings and geopolitical news.
"We are encouraged by our first-quarter performance, although we continue to believe that fiscal 2018 will be a transition year for our company, as we focus on laying the foundation for the future by executing on our strategic plan", he said. It fell 19 cents, or 0.4 percent, to $49.39 per barrel Monday in NY.
German and USA government bonds, alongside gold and the Japanese and Swiss currencies, were the main beneficiaries.
In late trading, USA 10-year yields were at 2.237. The euro edged down to $1.1726 from $1.1751. Meanwhile, markets in Japan, South Korea and other Asian countries were also lower, and so-called futures signaled that USA markets would also open down. Brent crude, the worldwide standard, lost 28 cents to $52.09 a barrel in London. The UK's FTSE 100 Index increased 0.1%, France's CAC 40 Index rose 0.2% and Germany's DAX Index added 0.3%.
The yield on the 10-year US Treasury note rose to 2.282% from 2.258% on Monday.