World Bulletin / News Desk
Wall Street stocks dropped early Thursday after North Korea announced a plan to send missiles towards Guam, raising the stakes of a nuclear standoff with the United States.
About 15 minutes into trading, the Dow Jones Industrial Average had dropped to 21,947.15, down 0.5 percent from Wednesday's close, falling back below the 22,000 mark it first broke through on August 2.
The broad-based S&P 500 shed 0.6 percent to 2,459.50, while the tech-rich Nasdaq Composite Index tumbled 0.8 percent to 6,299.12.
The S&P 500 volatility index jumped again on the latest jawboning in the US-North Korea standoff.
Still, analysts said the market seemed to be a bit skeptical that the North Korea situation would grow into a major crisis, noting that the losses were still not that deep.
In other news, US wholesale inflation dropped in July, the first contraction in nearly a year and another data point that could weaken the case for the Federal Reserve to raise the benchmark interest rate again later this year.
Macy's dropped 4.2 percent as it reported second-quarter revenues fell 5.4 percent to $5.6 billion, another sign of the travails facing department stores.
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.
The dollar was up versus the yen but down against the euro and pound, with all eyes on US President Donald Trump's summit with Russian counterpart Vladimir Putin in Helsinki.
Tax revenues totals nearly $72.1 billion while interest payments amounts to over $8.2 billion in January-June period
BIST 100 rises over 700 points; USD/TRY exchange rate stays at 4.8360
Country's egg, chicken, turkey, and meat production climbed in May on yearly basis, says official data
BIST 100 rises over 400 points, while USD/TRY exchange rate drops to 4.8460
Saudi Arabia intends to invest as much as $10 billion in South Africa’s economy, with a focus on energy projects
Share of young people in Turkey age 15-24 who are not in employment, education, or training down 4.5 pct in Q1 year-on-year
Treasury and Finance Minister Berat Albayrak says effective Central Bank is among main policy targets of new era
The European Commission, the EU's executive arm, said the 19-country single currency bloc would expand by 2.1 percent in 2018, lower than the 2.3 percent forecast just weeks ago in early May.
Country's central government research and development expenditures rise by 17.5 percent year-on-year in 2017
The IEA welcomed in its July report last month's agreement between the Organization of the Petroleum Exporting Countries (OPEC) and Russia to open the taps in order to bring prices down from multi-year highs.
In its monthly report, the Organization of the Petroleum Exporting Countries said buoyant world trade in 2017 and 2018 had helped impulse economic growth, and therefore demand for crude.
12-month rolling deficit stands at $57.6 billion, Turkish central bank says
BIST 100 slips over 1.03 points, while USD/TRY exchange rate at 4.7260
Housing prices up 4.5 pct in Q4 2017 compared to previous year, says Eurostat