Global markets jarred by North Korea fears

US stocks close slightly lower, trimming earlier losses

Stocks slide on continued concern over tension between US and North Korea

US stock indexes were set to open little changed on Friday, with the S&P 500 on track to post its biggest weekly loss in nine months, as investors remained cautious on heightened tensions between the United States and North Korea.

Developments regarding the situation with North Korea may remain in focus next week, although traders are also likely to keep an eye on reports on retail sales, housing starts, and industrial production.

The London market endured heavy losses on Friday as America's stand-off with North Korea inspired another round of selling.

Markets were also lower in Europe and Asia. The Dow shed 0.2 percent. The DJIA was poised for a fall of 1.1%, making for its worst week since a 1.5% drop in the one ended March 24.

"I will tell you this, North Korea better get their act together or they're going to be in trouble like few nations ever have been in trouble in this world", Trump said. The S&P 500 index was down 18.45 points to 2,455.57 and the Nasdaq composite index was down 68.32 points to 6,284.01.

The last time the S&P closed down more than 1 percent was May 17 when it fell 1.8 percent. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, dropped 4.2 basis points to 2.241%.

The drop by Disney came after the company reported fiscal third quarter earnings that came in above estimates but on weaker than expected revenues.

On Aug. 9, North Korea's military said it is considering missile strikes near the USA territory of Guam, warning that it is ready to stage an all-out war if Washington launches a preventive war against it. Discovery Communications fell 70 cents, or 2.9 percent, to $23.60. On the Nasdaq, 1,440 issues fell and 1,386 advanced.

OIL: Benchmark U.S. crude lost 24 cents to $48.37 per barrel on the on the New York Mercantile Exchange while Brent crude, used to price worldwide oils, declined 20 cents to $51.70 per barrel in London. Silver gained 20 cents, or 1.2 percent, to $17.07 an ounce. Brent crude, used to price global oils, gained 56 cents to $52.70 in London.

The pound was down 0.1% against the euro at 1.10.

Other markets: Asian markets had another tough day (http://www.marketwatch.com/story/asian-markets-extend-selloff-in-face-of-north-korean-crisis-2017-08-10), while the Hong Kong Hang Seng Index and the South Korea Kospi dropped 2.5% and 3.2%, respectively, for the week. Wholesale gasoline was little changed at $1.62 a gallon, heating oil rose 2 cents to $1.65 a gallon and natural gas rose 6 cents to $2.88 per 1,000 cubic feet. The Korean won fell against the U.S. dollar.

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