Guam Residents Fear Attack After North Korea Statements; Gov. Says 'No Threat'

Traders work on the floor of the New York Stock Exchange in New York U.S

European markets closed lower: London's FTSE lost 0.6 per cent, Paris fell 1.4 per cent and Frankfurt dipped 1.1 per cent.

Amid broad based weakness on Wall Street, biotechnology stocks turned in some of the market's worst performances on the day.

But while most traders appeared to favour safe-haven assets, bargain seekers helped Wall Street's three major indexes pare the day's earlier losses.

"The yen is the big story really".

The euro was down 0.4 percent at just over $1.17 and nearing a two-week low, while the New Zealand dollar tumbled a full 1 percent as its central bank head bluntly said he wanted it lower.

The latest tensions began after US President Donald Trump on Tuesday warned North Korea that it would face "fire and fury" if it threatened the United States.

North Korea said it was completing plans to fire four intermediate-range missiles over Japan to land near the U.S. Pacific island territory of Guam in an unusually detailed threat. "Every August we have some reason to run up the alarm", Kenny said.

With the rhetoric rumbling on, Europe's top-rated German bond yield held near six-week lows.


USA stocks closed slightly lower Wednesday, making up much of the ground they lost earlier after a rare batch of earnings disappointments by Walt Disney and other big companies.

On the commodity front, Gold, the safe haven precious metal, has risen to a two-month high on the geopolitical tension.

A drumbeat of threats by North Korea over the years has fostered a sense of resilience among the island's 162,000 inhabitants, whose lives are deeply intertwined with the U.S. military, which has 6,000 troops based there.

Top military brass and President Trump are being sued by five US military members that want to keep Trump's transgender ban from becoming a reality - "in any capacity".

Gold prices jumped at the domestic bullion market here today on sustained offtake from investors and jewelry stockists driven by surging global cues.

"This inflation data for the month was not good".

The energy sector (+0.4%) trades at the top of the leaderboard, thanks in part to gains in crude oil, with WTI +0.5% at $49.40/bbl ahead of the weekly EIA crude inventory report coming out at 10:30 a.m. The U.S. took back control of Guam on July 21, 1944.

"If it's going to happen it's going to happen", Loiue Joyce, a woman in her mid-20s, said of the North Korean threat, as she enjoyed a day of shopping. The Shanghai Composite Index lost 0.2 percent to 3,275.01 and Hong Kong's Hang Seng was off 0.8 percent at 27,629.68. Trump's comments came after a Washington Post report (https://www.washingtonpost.com/world/national-security/north-korea-now-making-missile-ready-nuclear-weapons-us-analysts-say/2017/08/08/e14b882a-7b6b-11e7-9d08-b79f191668ed_story.html?utm_term=.0938becb046e) that North Korea has built a miniaturized nuclear warhead.

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