Global Stocks Hold Gains as North Korea Response on Talks Soothes Nerves

Global stocks remained resilient Friday, despite growing geopolitical concerns following President Donald Trump's cancellation of a summit with North Korea, as investors were soothed by a measured response from Pyongyang and calming volatility in U.S. stock markets. Trump's decision to scrap the much-anticipated June 12 meeting with North Korean leader Kim Jong Un, as well as his recent moves on tariffs and criticism of ongoing trade talks with China, hasn't hit markets in a significant way this week, with the CBOE's key measure of equity volatility, the VIX index, falling to four-month lows and 10-year government bond yields holding around the 3% mark. An official response from Vice Foreign Minister Kim Kye Gwan, which noted that North Korea was "highly appreciated President Trump for having made the bold decision, which any other U.S. presidents dared not, and made efforts for such a crucial event as the summit," and suggested talks could still place, provided markets with broader support Friday as investors head into a three-day weekend in the U.K. and the United States.

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