U.S. President Donald Trump warned North Korea on Thursday not to strike Guam or U.S. allies, saying his earlier threat to unleash “fire and fury” on Pyongyang if it launched an attack may not have been tough enough.
“Henkel’s Beauty has underperformed peers for several years and given the results this morning, this trend looks set to continue – at least over the near-term”, said Investec analyst Eddy Hargreaves in a note. “That reset is being triggered by North Korea geopolitical concern and stretched valuations”, said Peter Kenny, senior market strategist at Global Markets Advisory Group, New York.
All the 11 major S&P indexed were lower, with technology sector’s 0.62% leading the decliners. The precious metal is often seen as a safe haven for investors during times of uncertainty.
The Dow Jones Industrial Average fell 36.64 points, or 0.17 percent, to end at 22,048.7, the S&P 500 lost 0.9 point, or 0.04 percent, to 2,474.02 and the Nasdaq Composite dropped 18.13 points, or 0.28 percent, to 6,352.33.
The CBOE Volatility Index .VIX , a barometer of expected near-term stock market volatility, closed at its highest since the US presidential election on Thursday, but was down 1.22 points at 14.82 points on Friday. The S&P 500 is up 9 percent, while the Dow is up 10.6 percent. Shanghai’s main index also tumbled 1.6 percent to 3,208.54 while Australia’s S&P/ASX 200 dropped 1.2 percent to 5,693.10.
Data showed US producer prices unexpectedly fell in July, recording their biggest drop in almost a year, while another set showed the number of Americans filing for unemployment benefits unexpectedly rose last week.
Kohl’s, another department store chain, slumped 8.9 percent after reporting that second-quarter sales dipped 0.9 percent compared with the year-ago period. Wall Street was expecting more inflation.
Inflation has risen 1.7 percent over the past 12 months, suggesting that inflation pressures remain well under control.
“But now we’re seeing increasing rather than diminishing tensions”, he said.
Blue Apron shares hit a record low at $5.03 after the meal-kit delivery service provider reported a bigger-than-expected loss in its first quarterly report as a public company.
Perrigo surged 16.08% after the drugmaker raised its full-year adjusted profit forecast.
Declining issues outnumbered advancers on the NYSE by 2,461 to 444. Netflix also fell, giving up $3.37, or 1.9 percent, to $174.99.