Monday 25 September 2017

Trump's 'fire and fury' outburst knocks markets

US President Donald Trump
US President Donald Trump
John Mulligan

John Mulligan

Donald Trump's threats of "fire and fury" against North Korea gave global stockmarkets the jitters yesterday, with markets in Europe sharply down after the US President's comments.

Ireland's ISEQ Overall Index was more than 1pc lower by mid-afternoon, joining a rout amongst wider European indices.

France's CAC-40 was 1.7pc lower, while Germany's DAX was down 1.4pc as markets headed for the latter part of the session. The UK's FTSE-100 had declined than 0.8pc. There was renewed nervousness in France after a car rammed a group of soldiers in a suspected terrorist attack.

"Trump's comments about North Korea have created nervousness and the fear is if the President really means what he said: 'fire and fury'," said Naeem Aslam, chief market analyst at Think Markets in London.

"The typical text book trade is that investors rush for safe havens," he added.

Trump's remarks on Tuesday that North Korea would face "fire and fury like the world has never seen" sent Wall Street lower yesterday morning. (Additional reporting by Reuters)

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