US stocks slip amid heightened US-North Korea tensions

By Kimberly Chin

By Kimberly Chin

Travel and media companies led USA stocks lower in afternoon trading Wednesday as some rare earnings disappointments weighed on the market.

Stocks are lower at midday as investors weighed the growing tensions between the USA and North Korea.

At 10:34 a.m. ET (1434 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 70.95 points, or 0.47 percent, to 15,146.38.

The Dow Jones Industrial Average rose 44.33 points, or 0.2 percent, to 21,888.34, the S&P 500 gained 6.01 points, or 0.25 percent, to 2,444.22 and the Nasdaq Composite added 32.10 points, or 0.52 percent, to 6,248.97.

Global benchmark Brent also fell 0.9 percent to $51.44, after Thursday's 1.5 percent drop.

The Russell 2000 index of smaller companies gave up 24.40 points, or 1.7 percent, to 1,372.54.

After a dip of as much as 0.52 percent earlier in the day, Wall Street's three major indexes bounced off intraday lows.

The Dow slid as declines in shares of Apple and those of Goldman Sachs, recently down 2.3 percent and 1.7 percent respectively, outweighed gains in shares of McDonald's and those of Coca-Cola, recently up 1.4 percent and 0.5 percent respectively.

Stock market falls can hit pension values, but savers who are not set to take their savings for a number of years typically don't need to worry, as losses are usually recouped over the longer term.

In recent trading, the Nasdaq and the S&P 500 have fallen to new lows for the session.

As North plans missile launch, US, S. Korea ready war games
And at the southern end, there's the Naval Base Guam that hosts the Submarine Squadron Fifteen and the USS Frank Cable. Guam is the southernmost island in what is known as the Mariana Archipelago and the largest island in Micronesia.


The Dow is up 2,081.41 points, or 10.5 percent.

The VSTOXX, the main European gauge of equity investor anxiety, jumped 26 percent to 23.8, a near four-month high, though it remained near historically depressed levels.

Politics lifted US defense stocks.

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.

Revenues in the first six months of the year rose 5.6% to 3.21bn euros (£2.9bn), helped by June's hot weather, and operating profits jumped almost 21% to 266.4m euros.

The price of gold rose 1% to 1,274.39 U.S. dollars per ounce, with Fresnillo and Randgold Resources up 72p to 1,544p and 200p to 7,380p respectively.

The price of oil was also 0.3% ahead at 52.29 United States dollars a barrel, with stockpiles coming under pressure from falling crude oil imports and record processing at American refineries.

In a note to investors, Paul Christopher, head global market strategist, and Tracie McMillion, head of global asset allocation, suggest, "the threat of a nuclear weapon is certainly more serious than previous threats, but that threat also may increase the probability of a diplomatic solution". Copper fell 2 cents to $2.93 a pound.

USA crude was down 0.9 percent at $48.16 per barrel, on track for a weekly loss of 2.9 percent. Tokyo's Nikkei 225 tumbled 1.3 percent, while Seoul's Kospi fell 1.1 percent.

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