Asian markets extend global slide
Escalating tension between the US and North Korea sends investors fleeing to less risky assets such the yen and the Swiss franc
Singapore — Asian equity markets extended a global slide on Friday as tension ramped up between the US and North Korea, sending investors fleeing to less risky assets such the yen and the Swiss franc. Wall Street closed sharply lower after US President Donald Trump issued a new round of fiery rhetoric, warning Pyongyang against attacking Guam or US allies after it disclosed plans to fire missiles over Japan to land near the US Pacific territory. The sell-off is likely to extend into the European session, with financial spread-better CMC Markets expecting Germany’s DAX and France’s CAC 40 to open down about 0.7% each and Britain’s FTSE 100 to start 0.55% lower. MSCI’s broadest index of Asia-Pacific shares outside Japan skidded 1.55%, its biggest one-day loss since mid-December. It is heading for a 2.5% drop for the week. Japanese markets were closed for a holiday. Many markets have recently climbed to record or multiyear highs, leaving them vulnerable to a sell-off. "What has changed...
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