Wall Street opens lower as tensions with North Korea escalate

The Hong Kong Stock Exchange is closed as Typhoon Haima approaches in Hong Kong

After touching a more than two-month high at US$1,291.86, spot gold last added 0.2 per cent to US$1,288.81 an ounce. The Nasdaq composite lost 76 points, or 1.2 percent, to 6,275.

With the tense mood pushing European shares down for a third day [EU] and Wall Street set to fall again [.N], global stocks .world were on course for their worst week since Donald Trump won November's USA presidential election.

The S&P 500 Index (SPX - 2,474.02) lost 0.9 point, or 0.04%.

"Amid tensions in the worldwide arena, it's hard to seek higher prices ahead of three days of holidays", Kawaguchi said. According to CNN, a USA jet departing from Guam flew over the Korean peninsula on Monday as a warning. The Russell 2000 index of smaller-company stocks gave up 6 points, or 0.5 percent, to 1,390.

"The comments by the State Secretary is a message that nothing important has been decided on North Korea", Haruki Kawaguchi, a manager in the stock trading department at Marusan Securities, told Bloomberg News.

Markets began to tumble Tuesday after President Trump promised North Korea will face "fire and fury like the world has never seen" if the country continues to threaten the US.

In New York, the Dow Jones Industrial Average fell 75.62 points, or 0.34 per cent, to 21,973.08.

Dow member Disney dropped 3.9 percent as it reported flat third-quarter revenues due in part to weakness in its cable subscription business. On the Nasdaq, 1,378 issues rose and 892 fell.

While stocks have declined this week, the sell-off has not been dramatic.

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"The market is trying to interpret the CPI data as somewhat positive because it is anticipating that the Fed will be on hold not only in September but also possibly in December", said Robert Pavlik, chief market strategist at Boston Private Wealth.

Manuel Oliveri of Credit Agricole said about the single currency,"The euro has become more correlated to risk in recent weeks and sentiment is still a bit cautious", adding "though the euro upside trend is likely to remain intact over the longer term".

"We have not had a 5 percent correction since June 2016".

When prices of bonds rise, yields fall.

The dollar was up 0.05 percent to 109.25 yen, after earlier falling to a sixteen-week low following data showing USA consumer prices rose less than expected in July.

Amid the hot rhetoric, US stocks sold off sharply on Thursday, with the S&P 500 falling more than 1 percent.

The dollar index fell 0.39 percent, with the euro up 0.48 percent to $1.1827.

"Whether it is a credit crunch in China, policy error from the Fed, or fear of an over-valued USA stock market, there are many reasons to maintain a balanced multi-asset portfolio that has exposure to defensive asset classes and currencies".

Elsewhere in commodities, the September crude contract was up 39 cents to $49.56 United States per barrel, September natural gas advanced six cents at $2.88 U.S. per mmBTU and September copper declined two cents at $2.93 USA a pound.

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