Shares hit by US-North Korea tensions

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AFP

The UK’s stock market has opened lower as worries over the situation between the US and North Korea continue to rattle investors.

On Thursday, Donald Trump said North Korea should be “very, very nervous” if it acted against the US.

The UK’s FTSE 100 index fell 66.36 points, or 0.9%, to 7,323.58 in early trade, having dropped 1.4% on Thursday.

US stocks ended lower on Thursday, and Asian markets fell sharply, with Hong Kong ’s Hang Seng index dropping 2%.

“The tension between the US and North Korea is still dominating the news and it is looming over the financial markets,” said David Madden, market analyst at CMC Markets UK.

“The uncertainty surrounding the situation has been the main driver of the markets recently.”

Gold – generally regarded as a safer asset in times of uncertainty – hit its highest price for more than two months on Friday, touching $1,288.92 an ounce before slipping back.

Investors have also headed to other traditional havens, such as the Swiss franc and the Japanese yen.

The pound was unchanged against the dollar at $1.2981 and up 0.15% against the euro at 1.1040 euros.

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