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S&P falls 1.4 percent in safety flight on North Korea tensions
13 August 2017, 02:52 | Megan Pierce
As tensions between the United States and North Korea continue to rise metro Detroiters are preparing for what could be a nuclear disaster
Tensions between North Korea and the US have intensified in recent days after Trump warned of severe retribution should the authoritarian state proceed with any more missile tests or threats. Fear of military conflict helped to knock £40 billion off the value of London's stocks in three days, analysts said.
Investors have been jittery about North Korea since Tuesday when Trump said any threats from Pyongyang would be "met with fire and fury like the world has never seen".
In the United Kingdom, the stock of TV giant ITV was down 1.9 percent in early trading, and Sky shares were down 0.5 percent, while Germany's ProSiebenSat.1 fell 1.2 percent.
The data comes amid tepid inflation that has remained below the Federal Reserve's 2 percent target, despite low unemployment. On the Nasdaq, 2,303 issues fell and 567 advanced.
Large retailers Macy's and Kohl's tumbled on Thursday after they reported another quarter of shrinking sales.
The Dow Jones was down 0.3% in opening trade, declining to 22,016.8 and the wider S&P 500 index dropped 0.48% to 2,463.18. The Nasdaq added 39.68 points, or 0.6 percent, to 6,256.56.
Emerging market stocks lost 1.28 percent.
Utilities closed up 0.3 per cent, while the materials sector was the S&P's biggest loser with a 0.9-per cent drop.
Gold buoyed by North Korea tensions, U.S. inflation data
Against the greenback, the Swiss franc eased about 0.1 percent to 0.9645 per dollar, having surged about 1.1 percent on Wednesday. President Trump says North Korea has "disrespected our country greatly", adding his "fire & fury" warning "wasn't tough enough".
The country previously threatened a further "all-out war, wiping out all the strongholds of enemies, including the USA mainland" in a government statement.
But the yen added to an already-strong weekly rally of close to 1.5 percent, hitting its highest in nearly four months versus the dollar at 108.73 yen. Yields fall when bond prices rise.
Friday's report was the latest in a string of lackluster inflation readings, which have surprised many investors who had entered the year betting on an upsurge in economic growth and inflation.
BONDS: Bond prices rose.
The yield on the benchmark 10-year Treasury note settled at 2.191%, its lowest close since June 26, compared with 2.211% Thursday and 2.269% last Friday.
Investors on Thursday scampered to safe-haven assets such as gold and the Swiss franc, helping the precious metal hit a more two-month high.
The local currency closed at 1,143.50 won against the US dollar, down 1.50 won from the previous session's close. It is now on track for its biggest weekly drop since the week before the November 8 USA presidential election.
About 7.5 billion shares changed hands on USA exchanges, well above the 6.25 billion average for the last 20 days.
Markets slide, dollar slumps as North Korea fears spike
Crude oil futures are slipping USD0.10 to USD48.49 a barrel after tumbling USD0.97 to USD48.59 a barrel on Thursday. The dollar index .DXY, which tracks the greenback against six rival currencies, was down 0.17 percent to 93.391.
US, France pledged to work to denuclearize North Korea
The influence of China in Pyongyang seems to be greatly reduced since Kim Jong Un became the North Korean leader in December 2011. Professor Lucas said: "The Chinese and the USA have been talking behind the scenes for months about what to do".
North Korea spat rattles Wall Street
Demand for German government bonds - seen as one of the safest financial securities in the world - intensified on Friday as U.S. The annual rate stood at 1.8%, which was below the 1.9% observed last month and the forecast of 2.1%.