Stocks Drop Most Since May, Bonds Rally on Tension: Markets Wrap
- Havens in demand as gold, yen rise on Trump-Kim spat
- Widespread selling hits U.S. equities as VIX surges 40%
David Bahnsen, Bahnsen Group founder and chief investment officer, discusses his investment strategy with Bloomberg's Julia Chatterley and Scarlet Fu on 'Bloomberg Markets.' (Source: Bloomberg)
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Rising geopolitical tension rattled financial markets around the world Thursday, sending U.S. stocks to the biggest loss since May and stoking demand for haven assets.
The S&P 500 Index halted an unprecedented stretch of calm on American equity markets and the CBOE Volatility Index spiked to its highest since April after President Donald Trump dialed up his warning to North Korea on threats to American allies. Gold surged to a nine-week high, the yen advanced below 110 per dollar and Treasuries strengthened.