FTSE 100 tumbles following Trump's promise of 'fire and fury' against North Korea; US stocks sell-off continues

Donald Trump’s promise of “fire and fury” sparks sell-off on global stock markets CAC 40 suffers most while FTSE 100 retreats from near record close G4S is the biggest faller on the UK’s benchmark index despite the security firm’s results confirming that its turnaround remains on track Investors flock to safe havens such as gold, the Swiss franc and the Japanese yen 4:22PM Sky shares fall as key investor considers withdrawing support for Fox takeover Rupert Murdoch is attempting to take full control of Sky Investor jitters over Fox’s £11.7bn takeover of Sky have pushed the British broadcaster down 1.1pc today. Fears that the deal may fall apart have resurfaced after culture secretary Karen Bradley asked media watchdog Ofcom to look into Rupert Murdoch and Fox’s bid again. Reuters is also reporting this afternoon that hedge fund manager and Sky shareholder Crispin Odey could withdraw his support for the deal. 3:59PM Oil price falls despite US stocks decline Brent crude dips following the latest stocks data Brent crude has dipped this afternoon and is heading towards flat territory for the session following the US Energy Information Administration’s latest stocks data. The price has fallen to $52.24 per barrel despite the closely watched figures showing that crude inventories fell by 6.5m barrels last week. David Madden at CMC Markets explains why prices still fell: “WTI and Brent Crude oil initially jolted higher after the Energy Information Agency reported that oil inventories dropped by 6.45 million barrels, and traders were expecting a decline of only 2.5 million barrels. “The report showed that gasoline inventories increased by 3.42 million barrels, while analysts were anticipating a drop of 1.5 million barrels. Oil edged lower after the increase in gasoline stockpiles prompted traders to sell the energy.” 3:46PM Tech firm …Read the rest of this story

Source:: https://finance.yahoo.com/news/trump-apos-promise-apos-fire-073212627.html