Published: Fri, August 11, 2017
Money | By Armando Alvarado

USA stocks fall again on North Korea fears

USA stocks fall again on North Korea fears

Traders there were also digesting a rise in jobless claims and the biggest drop in producer prices in 11 months.

The US dollar was down 0.77 per cent against the yen at 109.21 yen. It also hit its highest level since May.

Japan said on Tuesday it was possible that North Korea had already developed nuclear warheads and warned of an acute threat posed by its weapons programs as Pyongyang's continues missile and nuclear tests in defiance of United Nations sanctions.

On Thursday, New York Federal Reserve President William Dudley said he expects sluggish U.S. inflation to rise over the next several months while the hot labour market gets even hotter.

Money moved to the relatively safer bond markets after President Donald Trump threatened North Korea on Tuesday with "fire and fury like the world has never seen".

Soon after, North Korea's state-run news agency said Pyongyang was mulling a potential missile strike against the US Pacific island territory of Guam.

"Sound dialogue is not possible with such a guy bereft of reason and only absolute force can work on him", a report by the North's state-run KCNA news agency said of Trump.

Dudley also cautioned that "it's going to take some time" for inflation to rise to the central bank's 2 percent target even as he offered a generally positive outlook for the USA economy, job market and price pressures.

Gold rose again on Thursday as tensions between North Korea and the United States continued to impact markets.

The limited fall in the price of Asian stocks suggests that stockholders are not unduly alarmed, experts said.

"It's just a classic risk-off day", said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets in NY.

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Spot gold prices were unchanged at $1,286.27 a ounce, after touching a two-month high earlier.

"Corporate earnings can be easily overshadowed if there is a real threat of a conflict".

U.S. Treasury long-dated yields dropped to six-week lows, pressured by U.S.

Steel and copper prices stayed strong in metals markets.

As the US president intensifies his warnings against Pyongyang, the South Korean and USA national security advisers have ensured that no one side will make a sudden move without prior consultations.

USA crude oil crude futures edged up 10 cents to $48.69 per barrel.

There have been some markets which have benefited from the U.S.

Chun, who served as president from 1980 to 1988, published his memoir in April this year, and drew fire for mentioning his government's bloody crackdown on the 1980 pro-democracy uprising in the southern city of Gwangju, as a scheme led by North Korean troops and insisting that he was not involved in the brutal mass killings of Gwangju citizens. Platinum also moved up 0.8% to $979.85, while palladium moved up a percentage point to $900.30.

"Saber-rattling between two of the world's least predictable leaders caused a wave of risk aversion to wash over global markets, fueling demand for traditional safe harbors", said Joe Manimbo, senior market analyst at Western Union Business Solutions.

Plans are being drawn up and will be ready by the middle of August, North Korea said. "Therefore one shouldn't make a big call".

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