The following is an excerpt from Marc Jones | July 4, 2017 | reuters.com |
World shares pulled back and bonds and gold regained favor on Tuesday as a long-range ballistic missile test by North Korea and July 4 holidays for U.S. markets dampened risk appetite.
Asian shares were pushed lower and South Korea's won slid to a 16-week low after the North's missile landed in Japanese territorial waters amid assertions from Pyongyang that it could now strike "anywhere in the world".
Europe saw a modest drop too as the pressure to lock in profit after Monday's biggest jump in over two months outweighed a recovery during the day of commodity stocks as oil thrust upwards again after an overnight wobble.
Traditional safety plays fared well amid the caution.
The Japanese yen and gold were both higher, as were European bonds and Treasuries, which have been clobbered by recent signs that the era of emergency stimulus and ultra low interest rates might be coming to an end.
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