FTSE 100 takes cover from war of words over South Korea

Claudine Rigal
Août 13, 2017

European markets registered their worst weekly loss this year on Friday amid rising tensions between U.S. and North Korea.

The FTSE 100 slipped by50 points, to 7,394, after having fell by 44 points on Wednesday and 108 points yesterday. Investors, meanwhile, are fleeing to more stable investment markets.

The stock market jitters came as North Korea outlined plans to launch missiles aimed at the waters off the coast of the US Pacific territory of Guam. Trump said that Kim-un Jong had disrespected his country and also said that he would not be getting away with it.

Efforts by the USA to dial down rhetoric have failed to shift the bearish mood among investors. The index, which hovered below record highs this week, has slipped more than 3 per cent since Mr Trump said on Tuesday that the United States would unleash "fire and fury" if Pyongyang continued to issue threats.

'Traders are on red alert as the mention of war has sent them running for cover.

'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.

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