European stocks fall as caution over geopolitical tensions lingers

Xavier Trudeau
Août 13, 2017

Stock markets around the world continued their downward slide after US President Donald Trump made another verbal attack on North Korea.

U.S. markets held steady in trade on Friday, with the Dow Jones up 0.2%.

Traders reacted with dismay to his fresh warning Thursday that his earlier threat to unleash "fire and fury" on the reclusive nuclear-armed state may not have been "tough enough".

The UK's stock market ended the week down 1.1% as worries over the situation between the United States and North Korea continue to rattle investors.

It's been a similar story across most Asian markets, with stock falls of at least 1% a common feature of today's session.

"The FTSE has carried on where it left off on Thursday, with yet another day of risk-off sentiment seeing investors shift out of equities", said Joshua Mahony, market analyst at IG.

South Korea's KOSPI index fell throughout the day and a short time ago was down by 1.7%, capping four straight days of losses as the regional tensions with its northern neighbour weigh on the market.

Antofagasta dropped 4.6%, Rio Tinto and BHP Billiton each slid 3.9% in London. Spot gold traded traded as high as Dollars 1,288.92 an ounce on Friday, compared to levels around the USD 1257 mark earlier this week.

The euro-region blue-ship STOXX 50 index fell 0.9% and the DAX in Frankfurt lost 0.6%.

In the eurozone, the Paris CAC 40 dropped nearly 0.7 per cent to 5,081.92 points compared with the closing level on Thursday.

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