TSX hits 1-month low on risk aversion, lower oil prices

Trade Center left and 7 World Trade Center in New York. Technology companies were leading a broad slide in U.S. stocks in early trading Thursday Aug. 10 2017 as investors pored over

Tech companies lead broad slide in US stocks; oil rises

Technology companies were leading a broad slide in USA stocks in early trading Thursday as investors pored over the latest batch of corporate earnings reports. Banks and department store stocks also were among the big decliners.

Wall Street got bathed in a sea of red Thursday amid mounting tensions between the United States and North Korea. Oil prices were headed higher.

In Europe, Britain's FTSE100 was down over one percent, Germany's DAX traded 0.5 percent lower, while the French CAC40 index was 0.62 percent in the red, as of 9:00am GMT.

In Toronto, the composite index S&P/TSX has lost 143,08 points, or 0.9 %, to close at 15 074,25 points, the decline being nearly generalized to all sectors.

Far from trying to ease the fever, Donald Trump has stepped up its virulence on Thursday in the face of North Korea, which threatens openly the u.s. territory of Guam in the Pacific.

Trump continued to ramp up the rhetoric with a post on Twitter this morning indicating that the U.S.is prepared to take military action against North Korea. Titled "Reckless game over the Korean Peninsula runs risk of real war", the editorial suggested China will stay neutral if North Korea strikes first, but will intervene if the U.S.is the first mover.

Asian equities excluding Japan slid the most in eight months on Friday as the rhetoric between US and North Korean leaders intensified. Top automaker Hyundai Motor fell 2.07 percent to 142,000 won. Broadcom gave up $5.72, or 2.3 percent, to $243.45.

Smaller-company stocks also fell sharply.

Although the decline in sales was slowed and Macy's point to improved business in the second quarter, investors weren't buying it and the retail sector spasmed.

Shares Snap fell 1.94, or 14%, to 11.83 after the Snapchat parent reported earnings late Thursday that missed analyst forecasts. Kohl's like Macy's did beat estimates for earnings and revenues while Dillards delivered a loss of 58 cents per share as a result of deep discounting to shed inventory. Kohl's also declined, sliding $3.62, or 8.6 percent, to $38.31.

The yield on the benchmark 10-year Treasury note settled at 2.191%, its lowest close since June 26, compared with 2.211% Thursday and 2.269% last Friday. It added 39 cents to $49.56 a barrel on Wednesday. Brent crude, used to price worldwide oils, slid 80 cents, or 1.5 percent, to $51.90. The euro fell to $1.1735 from $1.1752. The index is bouncing off its lowest closing level in six months.

Railroad stocks have shown a strong move to the upside on the day, driving the Dow Jones Railroads Index up by 1.3 percent. Australia's S&P/ASX 200 edged down almost 0.1 percent.

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