Korean Update, In Which We Learn That The North Threatens With Many Additional Attacks
While CNBC (well, Erin Burnett) is looking at the Kospi and is amazed how the index did not move after it had closed before the military exchange last night, the latest from Yonhap is that the tension in Korea is far from diffused: "North Korea threatened to continue "merciless" strikes on South Korea on Tuesday after the communist state launched a deadly artillery attack across their western sea border. In a statement carried by the official Korean Central News Agency, the North's top military command accused the South Korean military of initiating the exchange by shooting toward its side." Of course, South Korea refuses to demonstrate that it continues to be utterly toothless and issues the following statement: "President Lee Myung-bak ordered his military Tuesday to strike North
Korea's missile base around its coastline artillery positions if it
shows signs of additional provocation, his spokeswoman said." Luckily, Jim Cramer is now expecting both Koreas to sit down for a friendly turkey dinner in a few days in the mine field in the middle of the DMZ, and diffuse the situation.
Elsewhere, BBC reports that there was an explosion next to the MI6 building in London.
BBC News is currently reporting that a controlled explosion has taken place near the MI6 building at Vauxhall Cross. Vauxhall Bridge and the Tube and rail station have been evacuated and closed. There are also reports that the objects being destroyed are bicycles.
Time to bring up that so faithful Hugh Hendry piece of advice: "I would recommend you panic."