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Stocks slide on continued concern over tension between United States and North Korea

13 August 2017

Wall Street's fear gauge - the CBOE Volatility Index or the VIX - surged 44%, its second-biggest one-day jump of the year.

SIMMERING TENSIONS: North Korea revealed on Thursday a detailed plan to launch a salvo of ballistic missiles toward the U.S. Pacific territory of Guam, a major military hub and home to U.S. bombers. "If the answer is 'yes, ' then you better get defensive". "As long as it doesn't go beyond just a war of words, this is going to be short-lived".

The Dow industrials rose 14.31 points, or less than 0.1%, to 21858.32 on Friday.

The technology sector was the biggest weight on the S&P 500 index with a 1.9-percent drop.

Smaller-company stocks also fell sharply. "This provides an excuse key in hand for investors to cash in profits, or at least to contain for the moment their fever buying in a market where many think it was ripe for a downturn", said Patrick O'hare of Briefing.

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Sharp pull backs defined the indexes in today's trading. It has been more than a year since the last 5% downdraft in stocks and more than 76 weeks since the stock market suffered a 10% loss.

With Japan and South Korea also warning North Korea, investors are taking a step back to see what is happening before chipping in back, Bakhos said.

USA stocks deepened their losses following the latest Trump comments, and the S&P 500 volatility index, known unofficially as the "fear index", rose decisively. It slipped Friday but was up more than 50% for the week.

The headlines about North Korea served as a spark to jolt investors out of complacency on the heels of an extended period of calm in the market, said McClellan who shared the following chart in a report.

Retailers slid after department stores Macy's and Kohl's both said same-store sales continued to decline in the second quarter. The stock fell $1.01 to $22.02.

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In equities, shares of J.C. Penney ( JCP ) were 16% lower pre-bell after the company reported a wider-than-expected fiscal Q2 loss. The Korean won fell against the USA dollar.

USA government bonds strengthened Friday as soft inflation data led investors to further scale back expectations for interest-rate increases from the Federal Reserve. The Treasury yield us 10-year fell to 2,201 % vs. 2,248 % Wednesday night and one of the warrants to 30 years 2,778 %, compared with 2,824 %. Economists had expected prices to rise by 0.2 percent.

A Labor Department report showed its producer price index posted a surprise drop in July, down 0.1% for the largest slide in nearly a year.

Federal funds futures suggested the chance of rate hike in December fell to 40 percent from 42 percent shortly before the release of the data.

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In July, a U.S. warship sailed near a disputed island in the South China Sea claimed by China, Taiwan, Vietnam. McCain " past an island in the disputed Spratly chain in the South China Sea, US officials told media.

Stocks slide on continued concern over tension between United States and North Korea