A key bellwether of North Korea tensions is surging

Global stocks fall on Trump's North Korea warning; US$ up after data

Brewing tensions between the US and North Korea put investors in a selling mood again Thursday, dragging USA stocks lower for the third day in a row.

Earlier on Thursday, North Korea revealed a plan to launch ballistic missiles toward a major USA military hub in the Pacific.

The Australian dollar, which rose to a 19-month high near 90.00 yen late in July, was down 0.6 percent at 86.77 yen after slipping to a one-month low of 86.23 yen.

The iShares MSCI South Korea Capped exchange traded fund EWY.P fell in a volume spike and ended down 0.85 percent.

The benchmark USA yield on Thursday was just above 2.2 percent, at its lowest level since late June, as investors bought up Treasuries, a classic safe harbor.

The influential financial stocks were among the biggest drags on the index, with Royal Bank of Canada down 1.5 percent to C$92.88, and Manulife Financial Corp falling 4.7 percent to C$24.43, its largest drop since early August past year.

"We're not very oversold yet so the market still has more downside left to it", said Robert Pavlik, chief market strategist at Boston Private Wealth in NY.

Wall Street swings lower after Trump warns North Korea
HIGH ON TECH: Gains among chipmakers and digital storage companies helped lift technology-sector stocks . The sell-off was widespread, with shares in financial and consumer companies leading the declines.

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"The markets are looking for direction after Wednesday's sharp moves and geopolitical concerns will dominate investor mindsets in the coming days", said Esther Maria Reichelt, an FX strategist at Commerzbank in Frankfurt. The Dow Jones industrial average slid 0.9 percent to 21,844.01.

But the safe-haven Japanese yen strengthened 0.33 percent versus the greenback at 110.39 per dollar. The dollar notched a two-month trough on the safe-haven Japanese yen and was last down 0.3 percent at 109.99.

The dollar weakened after news that USA producer prices unexpectedly fell in July, recording their biggest drop in almost a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase.

Benchmark U.S. Treasury yields spiked higher following the jobs data but pared gains after Trump's remarks on North Korea.

The yield on the benchmark 10-year U.S. Treasury note fell to 2.255 percent from its U.S. close of 2.282 percent on Tuesday. A recent effort by the U.N. Security Council unanimously imposed harsh new sanctions on the country that could deprive the regime of $1 billion a year.

Crude oil prices extended their slide as exports from key OPEC producers rose, despite news of lower crude shipments from Saudi Arabia. US President Donald Trump added to the negative sentiment by saying his initial warnings to North Korea - that it would be met with "fire and fury" if continues to threaten the United States - may not have been tough enough.

Spot gold added 0.7 per cent to $1,285.70 an ounce. USA gold futures GCcv1 gained 0.09 percent to $1,265.80 an ounce.


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