Dow plummets 205pts as Trump inflames Korea tension

North korea war

More than £27 billion was wiped off the value of blue-chip stocks on Thursday as investors remained spooked by the simmering tensions between the United States and North Korea.

The US Producer Price Index has seen its biggest fall in almost a year.

At the close trading in NY, the Dow Jones Industrial Average was down 204.69 points, or 0.9%, to 21,844.01, its biggest one-day fall since May 17.

Foreigners and retail investors offloaded shares worth more than 286 billion won (US$250 million) and 168 billion won, respectively, while institutions scooped up more than 429 billion won, keeping the main index from falling further. Earlier in the week, Trump said the USA would unleash "fire and fury" on North Korea if it continued to threaten the U.S. The stock has more than doubled over the past 12 months, gaining more than 160%. MSCI's broadest index of Asia-Pacific shares outside Japan closed 1.48 percent lower. He said that North Korea "can be very very nervous" if it acts on either the USA or its allies, and warned that "things will happen to them like they never thought possible".

Benchmark 10-year notes last rose 5/32 in price to yield 2.194 percent, from 2.211 percent late on Thursday.

Overnight, North Korea raised the stakes further by outlining a plan to fire a missile into the water near Guam, the United States territory in the Pacific.

On the economic front, data is expected to show that USA consumer prices likely rose in July after being unchanged the prior month.

Danny Rose issues Spurs apology even as Chelsea tempt with double wages
For me he is one of the most important businessmen in this country, I am sure he has many reasons to say that. Spurs are now the only team in the top-flight that have yet to make a new signing this summer.

But losses soon resumed, with Tokyo edging down as the Nikkei again came under pressure from the strength of the safe-haven yen, which hit eight-week highs Wednesday against the dollar.

Elsewhere in commodities, the September crude contract advanced 20 cents to US$49.76 per barrel and the September natural gas contract was up seven cents to US$2.95 per mmBTU.

To that end, gold prices shot up to near $1,300 an ounce - their highest level in several months.

Security outsourcing group G4S was the biggest faller after it reported slower than expected growth in the second quarter but held its first-half dividend steady, as management declared their increased confidence in prospects thanks to the "substantial progress" being made with restructuring.

South Korea's KOSPI fell 1.7 percent to its lowest since May 24, but its losses for the week are a relatively modest 3.2 percent.

Barrick Gold Corp rose 2.1 percent to C$21.7, while Goldcorp Inc rose 0.9 percent to C$16.29. The euro fell to $1.1791 from $1.1774.

For the week, the Dow is down 1.1%, its biggest one-week drop since November.

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