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| North Korea tensions ripple through global financial markets | North Korea tensions ripple through global financial markets |
| (5 months later) | |
| European and Asian stocks decline after missile test, with FTSE 100 down 0.36% and South Korea’s main index 1.2% lower | |
| Richard Partington | |
| Mon 4 Sep 2017 20.03 BST | |
| First published on Mon 4 Sep 2017 18.50 BST | |
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| Escalating tensions between the US and North Korea have rattled the financial markets as they reopened, as the prospect for nuclear war drove investors into safe haven assets. | Escalating tensions between the US and North Korea have rattled the financial markets as they reopened, as the prospect for nuclear war drove investors into safe haven assets. |
| Despite no sign of immediate military action, the crisis is creating a “risk off” mood in the markets. European stocks fell on Monday, with the FTSE 100 slipping 0.36% and the European Stoxx 600 down 0.52%. | Despite no sign of immediate military action, the crisis is creating a “risk off” mood in the markets. European stocks fell on Monday, with the FTSE 100 slipping 0.36% and the European Stoxx 600 down 0.52%. |
| Asia markets declined, with South Korea’s main index closing down 1.2% and Japan’s Nikkei losing almost 1%. Naeem Asla, of Think Markets – a spreadbetting firm, said the troubles in Pyongyang did “not present a stable environment for investing”. | Asia markets declined, with South Korea’s main index closing down 1.2% and Japan’s Nikkei losing almost 1%. Naeem Asla, of Think Markets – a spreadbetting firm, said the troubles in Pyongyang did “not present a stable environment for investing”. |
| The US stock market was closed on Monday for the Labor Day holiday. Elsewhere, however, gold prices rose to their highest levels in almost a year as investors bought safe-haven assets. Gold was up 0.7% an ounce at $1,333 (£1,031) but Brent crude fell 1% to $52.23 a barrel. | The US stock market was closed on Monday for the Labor Day holiday. Elsewhere, however, gold prices rose to their highest levels in almost a year as investors bought safe-haven assets. Gold was up 0.7% an ounce at $1,333 (£1,031) but Brent crude fell 1% to $52.23 a barrel. |
| German bond yields dipped to their lowest levels in more than four months, while the Swiss franc, often regarded among investors as a safer bet in turbulent times, rose 0.7% against the dollar. | German bond yields dipped to their lowest levels in more than four months, while the Swiss franc, often regarded among investors as a safer bet in turbulent times, rose 0.7% against the dollar. |
| On the currency markets, it was a poorer day for the pound. It fell against the euro and the dollar as economic data showed the UK construction industry was flirting with recession. | On the currency markets, it was a poorer day for the pound. It fell against the euro and the dollar as economic data showed the UK construction industry was flirting with recession. |
| Andrew Kenningham, chief global economist at the consultancy Capital Economics, said: “Provided the worst is avoided, similar reactions are likely in the coming months, but they should generally be short-lived. As long as outright war is avoided, global asset prices are likely to prove resilient.” | Andrew Kenningham, chief global economist at the consultancy Capital Economics, said: “Provided the worst is avoided, similar reactions are likely in the coming months, but they should generally be short-lived. As long as outright war is avoided, global asset prices are likely to prove resilient.” |
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