Asia Stocks Drop; Dollar Gains on North Korea News: Markets Wrap [Yahoo! Finance News]
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Source: Yahoo! Finance News
) -- Asian stocks retreated, with South Korean shares underperforming, and the dollar climbed after news that the U.S. is monitoring information surrounding the health of North Korea’s dictator.Equities declined across Asia-Pacific markets, with 2% or more losses in South Korea and Hong Kong. Shanghai and Tokyo benchmarks were down about 1%. U.S. futures surrendered gains and were down more than 1% at one point. While the yen traded flat, the dollar climbed against most major currencies. Treasuries were little changed.The U.S. has information that North Korea’s Kim Jong Un is in critical condition, reported, while CNN said America has intelligence that he’s in grave danger. Yonhap reported that South Korea denied the reports. Nuclear-armed North Korea has been ruled by one family since it was constituted after WWII.Oil futures rose, with West Texas Intermediate June contracts at about $22 a barrel; the May contract popped back into positive territory after Monday’s shock wipe-out.The
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