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13 August 2017, 07:11 | Hattie Nash
Drew Angerer Getty Images
FIRE AND FURY: Keeping up his tough talk, Trump told reporters that Kim Jong Un's government should "get their act together" or face extraordinary trouble, and suggested his earlier threat to unleash "fire and fury" on North Korea was too mild.
The rhetoric between the USA and North Korea has continued to heat up, leading traders to look to safe havens such as gold and treasuries. Gold (http://www.marketwatch.com/story/gold-trades-at-2-mo-high-as-north-korea-tension-boosts-haven-investments-over-stocks-2017-08-10) settled up 0.8% to $1,290.10 an ounce, trading at a roughly two-month high.
On Thursday, New York Fed President William Dudley said he expects sluggish USA inflation to rise over the next several months while the hot labor market gets even hotter.
Emerging market stocks lost 1.08 percent.
CURRENCIES: The dollar slipped to 109.05 yen from 109.20 while the euro weakened to $1.1763 from $1.1773. While the French CAC 40 Index fell by 0.6 percent, the German DAX Index slumped by 1.1 percent and the U.K.'s FTSE 100 Index plunged by 1.4 percent.
On Thursday the greenback had shed 0.8 percent versus the yen, with the Japanese currency rallying broadly against most major currencies.
Although Japan could be in the front line of any clash with North Korea, the yen is benefitting because Japan is the world's biggest creditor nation and Japanese investors tend to repatriate funds in times of stress, attracting other flows. The common currency had lost about 0.4 percent overnight after news USA job openings surged to a record in June reinforced Friday's robust payrolls data and supported the greenback.
The Swiss franc was on track for its biggest daily gain against the euro since the Swiss National Bank removed its cap on the currency in January 2015. U.S. Treasury yields fell in Asian time and the 10-year benchmark yield is down 2.7 basis points at 2.26 percent.
The decline in equity markets and a dip in U.S. bond yields triggered fresh demand for precious metals and gold pushed to fresh 2-month highs around $1,288.
Investors, who took the North Korea report from Japan in their stride earlier in the day, lost their appetite for risk after Trump's comments to reporters during his vacation at his golf club in New Jersey.
The market slide accelerated slightly in the last half-hour of trading as President Donald Trump denounced North Korea's nuclear program.
TORONTO, Aug 10 (Reuters) - Canada's main stock index hit its lowest close in a month on Thursday as oil prices fell and investors sought refuge in safe-haven assets amid rising tensions between the United States and North Korea.
Ralph Lauren gained $10.38, or 13.3 percent, to $88.53, while peer-to-peer loan company LendingClub added 99 cents, or 18.1 percent, to $6.45. The strength in the sector comes as gold for December delivery is jumping $11.30 to $1,290.60 an ounce.
The tech-laden Nasdaq CompositeIndex plummeted 135.46 points, or 2.1%, to close at 6,216.87. Brent crude, used to price worldwide oils, declined 23 cents to $51.67 per barrel in London.
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