Wall Street finished a hard week on a high note

Gold North Korea United States Guam Donald Trump Mitsubishi World stocks

After threatening to visit "fire and fury" on North Korea, President Donald Trump said that maybe the warning "wasn't tough enough".

A day earlier, the Standard & Poor's 500 index posted its biggest single-day drop in almost three months following Trump's warning to unleash "fire and fury" if Pyongyang continued its nuclear weapons expansion.

On Thursday, the CBOE Volatility Index, a barometer of expected near-term stock market volatility, closed at its highest since the US presidential election.

Gold, another classic safe haven asset, was trading at around $1,285 per ounce, up more than two per cent this week and near a nine-week high. "That did temporarily shake investors' complacency, but we think markets are ready to move higher in the back half of the year, and earnings and economic data are going to drive that".

The Dow Jones Industrial Average fell 94.55 points, or 0.43 per cent, to 21,954.15, the S&P 500 lost 19.51 points, or 0.79 per cent, to 2,454.51 and the Nasdaq Composite dropped 76.39 points, or 1.2 per cent, to 6,275.94.

S&P 500 e-mini futures were down 0.2 percent, hinting at weakness on Wall Street later in the day.

The dollar index, which tracks the greenback against a basket of six major rivals, was almost flat on the day at 93.646, remaining above last week's 15-month low of 92.548.

The ongoing political crisis that has seen North Korea state it was seeking to strike the US Pacific island territory of Guam within days, prompted gold speculator Dennis Gartman, editor and publisher of The Gartman Letter to say he believed gold was on the cusp on a significant break out. The contract fell 97 cents, or 2 percent, to close at $48.59 a barrel on Thursday.

Trump threatens 'military option' in Venezuela as crisis escalates
He went on to say that he thinks "lots of good things could happen" but "we could also have a bad solution". Latin American nations led by Peru are negotiating a written rebuke of U.S.

Sterling was last trading at $1.3007, up 0.25 percent on the day.

At 3:15pm BST, the Comex gold futures contract for December delivery was up 1.09% or $13.90 to $1,293.20 an ounce, as the precious metal extended overnight gains, of almost 2% stateside, with yet another rally in Asia and Europe.

Several indexes closed lower overnight. It is not just North Korea that has the potential to surprise investors. Tokyo's Nikkei 225 share index closed down 1.3% at its lowest since June 1 as the strong yen hit exporters, while South Korea's KOSPI index fell 1.1% to seven-week lows.

The Russian dollar-traded index RTS was down 1.49 percent, and ruble-traded MICEX fell 1.29 percent by midday. They have soared over 2 percent in the previous two sessions, and are set for a weekly gain of 2.25 percent.

BONDS: Bond prices rose.

The dollar was down 0.77 percent against the yen JPY= at 109.21 yen. Australia's S&P/ASX 200 dropped 1.2 percent to 5,693.10.

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.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose $3.40, or 0.26%, to $1,293.37 a troy ounce.

Related News:



Most liked

Anna Paquin 'claims' the breasts seen on BBC News At Ten
Furthermore, she also made fun of the news channel's statement that they are going to look into the matter, wondering what that could possibly mean.

United States stocks tumble on North Korea worries
The local currency closed at 1,143.50 won against the USA dollar, down 1.50 won from the previous session's close. Declining issues outnumbered advancing ones on the NYSE 6-to-1; on Nasdaq , a 3.60-to-1 ratio favored decliners.

Arsenal urged to avoid a Robin van Persie situation with Alexis Sanchez
He added: "I'm convinced in 10 or 15 years it will not necessarily be a football specialist who is a manager of a club". When asked if Arsenal have received any bids from PSG for the 28-year-old, Wenger replied: "I can not tell you that".

Arsenal's new €53 million man enjoys dream start to Premier League life
However, they will be without Alexis Sanchez , who has been ruled out for the first two weeks of the season amid rumours he is agitating for an exit .

Will Twitter suspend Trump's account for 'threatening nuclear war' against 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. As the crisis has unfolded, Trump has alternated praising China for its help and chiding it for not doing more.

U.S. destroyer in South China Sea called 'provocation' by Beijing
Today's operation will likely complicate Donald Trump 's hopes to persuade China to help rein in North Korea's nuclear programmes. A US Navy destroyer recently sailed near Mischief Reef in the disputed South China Sea in a freedom of navigation operation.

Amber Heard and Elon Musk speaks out about break up
Originally, it was thought the only change to Autopilot hardware for the new Model 3 was the addition of a driver-facing camera. Right now, the goal is to get the affordable electric vehicle out of "production hell," per a tweet by Musk.

Matsuyama knocks on the major door
Friday, completed 11 holes before the horn sounded while he was preparing for a putt on the par-4 third hole. Day and Stroud were two shots behind while Louis Oosthuizen and Francesco Molinari of Italy were three back.

West Brom fans react on Twitter to Jay Rodriguez's performance
Tony Pulis hopes he can take West Brom to the next level after signing a contract to remain as head coach until 2019. Pulis said: "We want everyone to chip in and the quality we got from set plays today was absolutely fantastic".

Christian Hackenberg shows definite signs of progress in Jets' preseason opener
The biggest play, of course, was a 53-yard pass from McCown on the Jets' opening drive, setting up Peake for a red zone touchdown. Henry carried 8 times for 29 yards as the Titans first team offense failed to score a point Saturday night.

Military Intensifies Cordon and Search Operations for Boko Haram in Maiduguri
Many have pointed accusing fingers on some NGOs for conniving with insurgents continue wreck havoc. Tens of thousands live on the brink of starvation and millions more lack secure access to food.

Cast your eyes online for a good view of solar eclipse
This occurs when the moon's orbit brings it too far from Earth to block out the entirety of the sun from our earthly perspective. For a list of reputable vendors and other safety advice for viewing the eclipse, NASA has more information on its website here .

Venezuela calls Trump's warning of possible military action a 'crazy act'
Arreaza called on "good-minded" Venezuelans to put aside their political differences and unite in rejecting Trump's comments. On July 31, the United States imposed direct sanctions on the Venezuelan president, terming Maduro a "dictator".

New Premier League season preview
The arrivals of defender Victor Lindelof, midfielder Nemanja Matic and striker Romelu Lukaku have also improved the squad. We are going to see at the end of the season what happens, knowing how hard it is".

Vehicle runs over counter-protesters at Charlottesville white nationalist rally, kills 1
There are not " many sides" here, just right and wrong, " Representative Adam Schiff, a Democrat from California, said on Twitter. At least one person was killed and 19 others injured in the crash, officials said, and the driver was taken into custody.