Retail brands surprise on Wall Street

The Dow was heading for a tenth straight record close on Tuesday after better-than-expected US jobs dataMore

The Dow was heading for a tenth straight record close on Tuesday after better-than-expected US jobs dataMore

Rising geopolitical tensions have hit the markets globally as the US-North Korea standoff escalated and a suspected terror attack in Paris sent investors to the safe-haven of the gold mining stocks. President Donald Trump said on Tuesday that USA threats from Pyongyang would be met with "fire and fury," which prompted North Korea to say it was considering plans for a missile strike on the US pacific territory of Guam.

Gold was the big victor Wednesday as stocks pared back to moderate losses and Walt Disney (DIS) dragged on the Dow, while Netflix (NFLX) and Priceline Group (PCLN) hindered the Nasdaq and retailers took some brutal hits after reporting second-quarter results.

Kagawa also said the market is also keeping an eye on the CBOE SKEW INDEX, or so-called "black swan" index, which measures the likelihood of extreme moves in the S&P 500 based on how traders are pricing the index's options. The Standard & Poor's 500 index fell 0.2 per cent, to 2,474.92.

WALL STREET: Losses in health care and consumer-focused companies pulled US stocks lower, snapping a 10-day winning streak for the Dow Jones industrial average. The Dow also fell 0.5% to dip briefly back below the 22,000 mark, and the Nasdaq tumbled almost 1%.

Crude oil prices extended their slide as exports from key OPEC producers rose, despite news of lower crude shipments from Saudi Arabia.

Fossil tumbled 25.1 percent after the watch maker said sales continued to weaken, falling short of analysts' estimates. Travel-review website operator TripAdvisor was down 7.35 percent.

Manulife Financial Corp was down 1.1 percent to C$25.64. Its shares slid $9.77, or 5.3 percent, to $174.02.

Benchmark U.S. crude added 39 cents to settle at $49.56 a barrel on the New York Mercantile Exchange. Lockheed Martin, Raytheon, General Dynamics and Northrop Grumman were all up, lifting the Dow Jones U.S. defense index 1.17 percent.

Silver gained 47 cents, or 2.9 percent, to $16.86 an ounce.

The KLCI finished slightly lower on Wednesday following losses from the plantations, industrials and telecoms.

The FTSE 250 was down 0.47% in afternoon trading against a backdrop of heightened geopolitical tensions caused by rising antagonism between the U.S. and North Korea.

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