ALERT: North Korea Artillery Fire Hits South Korean Island

(UPDATE) Japan's Nikkei Shinbun reports that North Korea fired more than 200 artillery shells, and in response South Korea fired back about 80.

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From Reuters, on Tue Nov 23, 2010 1:22am EST:

North Korea on Tuesday fired dozens of artillery shells at a South Korean island, setting buildings on fire and prompting a return fire by the South, Seoul's military and media reports said.

Seoul's YTN television quoted a witness as saying 60 to 70 houses were on fire after the shelling.

The military confirmed the exchange of firing, without providing more details.

According to Japan's Yomiuri Shinbun, the attack happened around 2:30 PM local time on November 23 (9:30 PM PST, November 22, or 12:30 AM EST, November 23).

Asian stock markets have dropped on the news. US stock futures have done the same. Dow futures down 75, S&P500 futures down 9.30, Nasdaq 100 futures down 13.50.

US dollar is rising sharply against Japanese yen, and gold has reversed the decline.

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