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13 August 2017, 07:11 | Hattie Nash
Wall Street swings lower after Trump warns North Korea
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.
Stocks Claw Back Gains but North Korea Keeps Pressure on
The Nasdaq Composite, meanwhile, was facing its worst week since the one ended December 2, which logged a loss of just over 2%. The single-session equity put/call ratio jumped to 0.83 - the highest since April - and the 21-day moving average rose to 0.65.
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.
European markets open lower on Friday
The single-session equity put/call ratio jumped to 0.83 - the highest since April - and the 21-day moving average rose to 0.65. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, popped almost 11 percent to 11.02.
Eclipse glasses becoming harder to find
A Kansas woman told station KWCH 12 she bought 500 solar eclipse glasses for kids at a local school - which turned out to be fake. Any filter less opaque than that may cause severe eye damage that would not become evident until hours later, Chou warned.
DOT Responds to License Plate Design Controversy
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Xiaomi's MIUI has serious security flaws: eScan
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Usain Bolt's final race ends in shock injury
Allied with a charismatic personality, it has guaranteed Bolt recognition as one of the world's most successful sportsmen. Their leaving of the track scene leaves a void in the sport that does not look like being filled any time soon.
Brighton vs Man United Premier League Results 12 Aug 2017
Brighton boss Chris Hughton: "For 70 minutes I thought we were good, there's only one way we can play against a team like City. Craig Burley believes Manchester City's victory over Brighton is just the beginning for Pep Guardiola & Co.