Asian shares, United States stock futures, dollar slip on rising Korean tensions

Asian shares, United States stock futures, dollar slip on rising Korean tensions

"It's a clear case of "risk-off" sentiment lifting the yen, as investors focus on the latest developments with North Korea", said Kumiko Ishikawa, FX market analyst at Sony Financial Holdings in Tokyo. Just hours after U.S. President Donald Trump told North Korea that any threat to the United States would be met with "fire and fury," a spokesman for the Korean People's Army said in a statement carried by the North's state-run KCNA news agency that it was considering a strike aimed at U.S. military bases on Guam.

Spot gold added 0.4 per cent to $1,265.22 an ounce, pulling away from the previous session's two-week lows.

The Standard & Poor's 500 index slipped 0.90 points, or 0.04 percent, to 2,474.02.

Gold was the big victor Wednesday as stocks pared back to moderate losses and Walt Disney (DIS) dragged on the Dow, while Netflix (NFLX) and Priceline Group (PCLN) hindered the Nasdaq and retailers took some brutal hits after reporting second-quarter results. Energy stocks fell along with crude prices as investors kept an eye on the latest company earnings and geopolitical news. The S&P 500 slid a point to close at 2,473 and the Dow Jones Industrial Average dropped 38 points, or 0.2%, to end at 22,046. The Russell 2000 index of smaller-company stocks gave up 13.20 points, or 0.9 percent, to 1,396.95.

Nine of the 11 major S&P sectors were lower, with the consumer discretionary index's 10.2 percent fall leading the decliners.

Congress expels 8 Gujarat MLAs over RS cross
Ahmed Patel , who met Congress MLAs after they returned from their Bengaluru sojourn, said he was confident of his victory. Patel may have won a personal fight by getting himself elected to Rajya Sabha for the fifth time despite all odds.

"That may have weighed a little bit" on markets, said Phil Guarco, global investment specialist at J.P. Morgan Private Bank.

Priceline Group slid 6.9 percent after the online travel booking service issued a profit forecast that was weaker than analysts were expecting.

Pharmaceutical giant Valeant grew 2 percent after news hit the market that the company recorded lower sales in the second quarter, but saw the operating loss significantly lower.

In Europe, France's CAC 40 fell 1.6 percent to 5,135 while Germany's DAX was down 1.3 percent at 12,133. September-dated crude futures settled up 0.8%, or 39 cents, at $49.56 per barrel.

US crude shed 18 cents to $48.99 a barrel, while Brent crude fell 25 cents a barrel at $51.89 a barrel.

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