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Bodies of Ukrainian victims of Iran plane crash returned home By Reuters



KIEV (Reuters) – The bodies of the 11 Ukrainian citizens who died when a passenger plane was accidentally shot down by Iran this month were brought back to Ukraine on Sunday in a solemn ceremony at Kiev airport.

All 176 on board the Ukraine International Airlines flight from Tehran to Kiev were killed when the Boeing (NYSE:) 737-800 was shot down on Jan. 8, at a time when Iran was on high alert for a U.S. attack.

Most of those on board were Iranians or dual nationals. Canada had 57 citizens on board. Nine of the Ukrainian citizens were crew members.

With President Volodymyr Zelenskiy looking on, coffins draped in the Ukrainian flag were carried one by one from a Ukrainian military plane to a waiting hearse at Kiev’s Boryspil airport.

Soldiers held up flags to represent the different nationalities of those who died.

Relatives came to the airport carrying bunches of flowers. Airline staff, some in tears, were waiting on the tarmac.

Iran announced on Saturday it would send the black boxes to Ukraine to be decoded, but did not say when this would happen. Iranian representatives are expected to travel to Ukraine this coming week.

The plane disaster sparked unrest in Iran and added to international pressure on the country as it grapples with a longrunning dispute with the United States over its nuclear program and its influence in the region that briefly erupted into open conflict this month.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Kim Jong Un sacks foreign minister, says report



Kim Jong Un has sacked North Korea’s top diplomat, according to an unconfirmed local report, in a move that analysts say could spell a tougher stance from Pyongyang in nuclear talks with the US.

Ri Yong Ho, the country’s foreign minister since 2016 who has played a central role in relations with Washington, has been replaced by Ri Son Gwon, a top official known for taking a hard line approach on foreign relations, according to NK News, a North Korea-focused information service.

The report, based on unnamed sources in Pyongyang, has not been independently confirmed by the Financial Times. The US state department did not immediately comment on the events.

Analysts said the change of senior personnel suggested that the North Korean leader was readying for a tougher approach in its dealings with the US after Washington failed to ease economic sanctions.

Soo Kim, a former North Korea analyst with the CIA, said Ri Son Gwon, previously the chairman of the agency that oversees inter-Korean relations, was “a hard knock and knows how to press the right buttons to get his opponent riled up . . . decorum and courtesy are thrown out the window”.

Ms Kim, now at Rand Corporation, a US-based think-tank, added: “Not that the North Korean regime has ever maintained the minimum level of decorum and decency in dealing with Washington, but if confirmed, Ri’s latest appointment just means more tawdry, offensive and incendiary rhetoric and escalation of tensions for Washington in the months to come.”

The change comes against a backdrop of stalled negotiations between the US and North Korea, with Pyongyang demanding that sanctions be lifted and Washington insisting that North Korea first verifiably end its nuclear programme and give up its store of weapons.

In efforts to convince Mr Kim to change his stance, Donald Trump has met the North Korean leader three times over the past two years in a series of unprecedented overtures by a US president. The US and South Korea have also downsized joint military operations on the Korean peninsula and, in further gestures aimed at easing tensions, Seoul has sought to boost inter-Korean co-operation.

Andrei Lankov, a North Korean expert at Kookmin University in Seoul, said it was clear Mr Kim wanted to see progress on easing sanctions. But he urged caution before “jumping to conclusions” about the change of foreign minister, given the opaque nature of power struggles among the North Korean leadership.

“There might be some kind of bureaucratic infighting, we have no clue . . . We know very little about what is going on with the top leadership and that has been the case for half a century,” said Mr Lankov.

Still, David Kim, a former US state department official working on non-proliferation issues, said Ri Son Gwon’s appointment was in line with “a shift back towards a hard line policy against the US”, as outlined by the North Korean leader late last year, but, he noted that the new foreign minister has experience in dealing with the US and South Korea.

“The message to the US is: ‘Look, the ship is sailing away quickly, we can turn back and try to find a diplomatic solution or we can just as easily go back to the days of fire and fury’,” he said, referencing the dangerous escalation of missile testing and threats by the US president in 2017.

Last week, Moon Jae-in, the South Korean president, warned that North Korea and the US did not “have much time left” for talks ahead of the US presidential election.

Amid the impasse, many experts are worried that Pyongyang will restart nuclear and long-range missile tests this year.

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Stock Market Checks 3 Out of 4 Boxes That Triggered The 1987 Crash



  • In 2007, 20 years after the 1987 stock market crash, a Wall Street columnist for USA Today reviewed the four conditions that caused the storm.
  • The column ran within days of the Dow and NASDAQ peaks, just as the Great Recession and 2007 – 2009 bear market began.
  • Today we’re seeing three of the four stock market conditions that triggered the ’87 crash. When the fourth one happens, buckle up.


On “Black Monday” (Oct 19, 1987), stocks suddenly went into free fall.

The Dow Jones Industrial Average experienced a 22% drop, its worst intra-day loss in history. The S&P 500 lost 20% of its valuation (PDF).

On the 20th anniversary of the 1987 stock market crash, a pair of USA Today columnists asked a question that would soon get a resounding answer:

20 years later, could markets crash again?

The duo, a business reporter and a Wall Street and financial markets reporter, brought readers back to the fateful Monday in October 1987. And they scrutinized the four prevailing conditions that led to the stock market’s worst day in history.

Here is what happened just before the crash:

1. The market makes huge gains beforehand…
2. Market euphoria reigns…
3. Sharp downturns precede the crash…
4. Financial innovation backfires…

Check off 1, 2, and 4. Be aware of a sharp downturn..

Today’s stock market is unnervingly similar to the one that crashed in 1987.

1. Stock Market Makes Huge Gains Beforehand

In the lead up to Black Monday:

The Dow soared 44% from the start of 1987 through its Aug. 25, 1987, peak. The Standard & Poor’s 500 index had climbed 265% the five years ended August 1987, assuming reinvested dividends.

You could say the stock market made huge gains in 2019.

Dow Jones Industrial Average 1Y Chart | Source: TradingView

Recent growth hasn’t been as dramatic as the bull market before the 1987 crash. But the unprecedented duration of the expansion is cause for concern. It has been the longest bull run in history.

Over the last ten years, the S&P 500 grew 189%. Throughout 2019 and into the new decade, the major stock indexes continue racing to record highs.

2. Stock Market Euphoria Reigns

Because of the huge gains:

Market euphoria reigns. The public doesn’t usually focus on the stock market — unless it’s skyrocketing. The public’s attention was focused on Wall Street in 1987… Many argue that it is the swing from mass euphoria to despair that triggers crashes.

A decade of growth has led Wall Street to embrace a very dangerous notion: That it can’t lose. That this will last forever. That leads to greed.

Be fearful when others are greedy and greedy when others are fearful. Warren Buffet

In November, CNBC warned:

Wall Street is getting very bullish as stocks hit records. Here’s why that’s worrisome..

In December, CNN Business said “Extreme greed is back,” and asked:

Euphoria sweeps across Wall Street. How long will it last?

In the middle of the Dot Com crash, Warren Buffett summarized investing euphoria:

Nothing sedates rationality like large doses of effortless money. Normally sensible people drift into behavior akin to that of Cinderella at the ball. They know that overstaying the festivities will eventually bring on pumpkins and mice. But they nevertheless hate to miss a single minute of what is one helluva party.

3. Financial Innovation Backfires

In 1987, computer-automated stop-loss orders turned a scare into a catastrophe:

Institutional investors touted “portfolio insurance” as a way to immunize themselves from huge losses… Instead, they acted as a trigger to sell when prices were in free fall, exacerbating the losses.

Today, markets could be more vulnerable to automated mayhem than ever before. 80% of the daily trading volume consists of trades executed by computers.

The incredible amount of algorithmic trading in the markets today has already precipitated more “flash crashes” since 1987.

On May 6, 2010, the Dow dropped over 9% in 36 minutes. A Chicago-area market intelligence firm said another flash crash is “absolutely certain” to happen again.

4. Sharp Downturns Precede The Crash

Here’s what makes that 9% flash crash absolutely terrifying— in 1987:

The market had been sliding since late August, but it fell a total of 10% the three days before the crash.. Says University of California at Berkeley finance professor Mark Rubinstein: “When those declines happened, there were a lot of people who started to think about it over the weekend who concluded, ‘This is not the kind of market I want to be in.’”

With all three other boxes checked, another event like the 2010 flash crash (or something else we aren’t expecting) could be enough to trigger a panic selloff.

A sharp downturn in the near future could cause a larger fall soon after.

Disclaimer: The reports and opinions in this article do not represent investment or trading advice from

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