Wall Street lower on US-North Korea tensions

US STOCKS-Wall Street swings lower after Trump warns North Korea

US STOCKS-Wall Street swings lower after Trump warns North Korea

David Madden, market analyst at CMC Markets, said: "Stock markets in Europe are still feeling the pressure from the tension surrounding North Korea".

Six of the 11 major S&P sectors were higher, with the technology's .SPLRCT 0.36 percent rise leading the advancers.

Consumer-focused stocks, media companies and banks accounted for much of the market decline.

The Dow Jones Industrial Average .DJI closed down 204.69 points, or 0.93 per cent, at 21,844.01, the S&P 500 .SPX lost 35.81 points, or 1.45 per cent, to end the session at 2,438.21 and the Nasdaq Composite .IXIC fell 135.46 points, or 2.13 per cent, to 6,216.87.

Wall Street got off to a downbeat start early Thursday as tensions between the US and North Korea continued to escalate, rattling markets overseas.

U.S. President Donald Trump told reporters at his golf club in Bedminster, New Jersey, on Thursday that he will respond forcefully to any North Korean attack on the U.S. or its allies.

The Footsie is likely to take cues from the United States, where stocks retreated last night after President Donald Trump warned North Korea, saying that threats will be "met with fire and fury".

"Since these are the stocks that have been in the spotlight the most, they tend to have the most volatility upwards and downwards", said Chris Bertelsen, chief investment officer of Aviance Capital Management in Sarasota, Florida.

The stage was set for the US indexes to go lower early Wednesday as investors around the world reacted to the rising war of words between the USA and North Korea, pushing global market indexes lower.

USA destroyer challenges China's claims in South China Sea
Last week, the US government provided two brand new Cessna 208B surveillance planes to be used in South China Sea maritime monitoring.

Valeant's stock, which rallied a day before following quarterly results, sank 9.6 percent to C$17.85 after it said its subsidiaries in Australia were the subject of a tax audit.

The U.S. equity market is hovering near record levels and volume has been tepid following the onset of summer.

Damage for the week: The days of verbal sparring between Washington and Pyongyang looks set to bruise weekly performances for the major US indexes. The Dow slumped by 1.1%, while the Nasdaq and the S&P 500 tumbled by 1.5% and 1.4%, respectively.

"I think the market was looking for a reason to come off here", said Irwin Michael, portfolio manager at ABC Funds.

Nordstrom Inc.(JWN) shares rose 1.6% after the retailer late Thursday posted earnings that beat expectations (http://www.marketwatch.com/story/nordstrom-shares-rise-after-retailer-tops-views-sales-rise-2017-08-10), along with a sales rise.

Amid the hot rhetoric, USA stocks sold off sharply on Thursday, with the S&P 500 falling more than 1 percent. Discovery Communications fell 70 cents, or 2.9 percent, to $23.60. The stock lost $2.97 to $8.87. Rival Advanced Micro Devices was also down 2.6 percent.

Benchmark U.S. crude added 39 cents to settle at $49.56 a barrel on the New York Mercantile Exchange. Copper rose 4 cents to $2.94 a pound.

The dollar slipped to 109.26 yen from 109.85 late Wednesday.

Auto parts maker Hyundai Mobis Co. was up 0.59 percent, and SK Telecom, the No. 1 mobile carrier in the country, gained 0.73 percent. The euro held steady at $1.1752.

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