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Nuke test yields market jitters
Asia markets rattled by news from N. Korea, overshadows multi-billion dollar bank deal and reported Cablevision offer.
October 9 2006: 7:39 AM EDT
NEW YORK (CNNMoney.com) -- Wall Street was unsettled Monday after North Korea jolted the international community by saying it tested a nuclear weapon.
Stock futures, which are an indication of where U.S. markets are likely to open, were down in early trading.
North Korea claimed it conducted a successful underground nuclear test Monday, according to the country's official Korean Central News Agency. The U.S. government said it was looking into the tests but believed the claims to be true.
Stocks in Asia fell on the news, with South Korea's main stock index tumbling 2.4 percent and Hong Kong's Hang Seng index losing more than 1 percent. Japan's Nikkei stock index was closed for a holiday.
The dollar reached eight-month highs against Japan's yen.
Investors in Europe were less upset by the Korean tests, and stocks were mixed in early trading.
Oil rose above $60 a barrel on the renewed geopolitical fears. U.S. crude gained 80 cents to $60.56 in early electronic trade, while Brent rose $1.02 to $60.85.
http://money.cnn.com/2006/10/09/markets/stockswatch/index.htm?cnn=yes
Nuke test yields market jitters
Asia markets rattled by news from N. Korea, overshadows multi-billion dollar bank deal and reported Cablevision offer.
October 9 2006: 7:39 AM EDT
NEW YORK (CNNMoney.com) -- Wall Street was unsettled Monday after North Korea jolted the international community by saying it tested a nuclear weapon.
Stock futures, which are an indication of where U.S. markets are likely to open, were down in early trading.
North Korea claimed it conducted a successful underground nuclear test Monday, according to the country's official Korean Central News Agency. The U.S. government said it was looking into the tests but believed the claims to be true.
Stocks in Asia fell on the news, with South Korea's main stock index tumbling 2.4 percent and Hong Kong's Hang Seng index losing more than 1 percent. Japan's Nikkei stock index was closed for a holiday.
The dollar reached eight-month highs against Japan's yen.
Investors in Europe were less upset by the Korean tests, and stocks were mixed in early trading.
Oil rose above $60 a barrel on the renewed geopolitical fears. U.S. crude gained 80 cents to $60.56 in early electronic trade, while Brent rose $1.02 to $60.85.
http://money.cnn.com/2006/10/09/markets/stockswatch/index.htm?cnn=yes
