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London (AFP) - World stock markets slumped Thursday, gripped by yet another fierce sell-off after a warning by Federal Reserve boss Janet Yellen over the global economy, while oil fell close to 12-year lows.
North Korea on Thursday expelled all South Koreans from the jointly run Kaesong industrial zone and seized their factory assets, saying Seoul's earlier decision to shutter the complex had amounted to a "declaration of war". Pyongyang said it was placing Kaesong, which lies 10 kilometres (six miles) inside North Korea, under military control and cutting two key communication hotlines with Seoul. The measures mark a significant escalation of cross-border tensions that have been elevated since North Korea carried out a nuclear test last month and a long-range rocket launch on Sunday.