Stocks in Europe and Asia Slip as North Korea Tensions Rise

Stocks in Europe and Asia Slip as North Korea Tensions Rise

Investors are leaving the index to look to traditional safe-havens such as the Swiss franc, the dollar, or gold.

London's benchmark FTSE 100 index shed 0.9 percent to 7,323.45 points.

European stock markets fell further in opening trade on Friday on intensifying fears over North Korea, dealers said. Australia was off 1.2 percent.

'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.

Update: The FTSE 100 has slumped further into the red amid persisting fears over North Korea tensions, with the sell-off accelerated by a slump in United States markets. Secretary of state Rex Tillerson said yesterday North Korea posed no "immediate threat" and that "Americans should sleep well at night, have no concerns about this particular rhetoric of the last few days".

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But losses soon resumed, with Tokyo edging down as the Nikkei again came under pressure from the strength of the safe-haven yen, which hit eight-week highs Wednesday against the dollar. The index, which hovered below record highs this week, has slipped more than 3 per cent since Mr Trump said on Tuesday that the U.S. would unleash "fire and fury" if Pyongyang continued to issue threats.

Hong Kong shed more than one percent and Shanghai also closed lower, while Seoul shares continued their sell-off after slumping Wednesday, with the won again softening.

The reclusive state raised the stakes further on Thursday with a detailed plan to send a salvo of missiles towards the U.S. territory of Guam.

But he also cautioned disappointing inflation data may delay interest rate increases.

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