Global Stocks Poised for Weekly Declines

President Donald Trump speaks in the Roosevelt Room of the White House in Washington Wednesday Aug. 2 2017

North Korea on Thursday detailed plans for a missile strike near the U.S. Pacific territory of Guam.

Gold enjoyed another strong session as traders sought out safe havens, with the price lifting 0.1% to 1,287.8 United States dollars an ounce. On Tuesday, August 8, despite that new record high, the market pulled back and closed lower due to decreased risk appetite.

Trump warned North Korea again on Thursday not to strike Guam or USA allies, saying his earlier threat to unleash "fire and fury" on Pyongyang if it launched an attack may not have been tough enough.

"That reset is being triggered by North Korea geopolitical concern and stretched valuations", said Peter Kenny, senior market strategist at Global Markets Advisory Group in NY. Were the situation to escalate, much more than the stock markets would be at risk.

Trump took specific aim at North Korean leader Kim Jong Un, saying, he had "disrespected our country greatly", and would not be "getting away with it". South Korea's Kospi lost 1.7 percent, while Hong Kong's Hang Seng slid 2 percent.

The Japanese yen hit an eight-week high against the US dollar, and USA -traded Nikkei stock futures dropped 2 percent to their lowest since mid May.

The single currency slipped 0.3 percent to $1.1723 and was holding just above a July 28 low of $1.1688.

"It's been a bit of a roller coaster this week, with all the rhetoric between the U.S. and North Korea", said Jeff Kravetz, regional investment strategist at U.S. Bank Wealth Management.

Trump's threat earlier this week, to unleash "fire and fury" on Pyongyang if it attacked, was ultimately dismissed as bluster by many investors.

"Tensions will continue to mount and could eventually develop into a "black swan" event that the markets are not prudently considering", Steve Hanke, professor of Applied Economics at the Johns Hopkins University, told the Reuters Global Markets Forum on Wednesday.

Sharad Yadav is free to express his opinion, says Bihar CM
Sharad Yadav said "Jab hum Indira Gandhi se nahi dare aur unke khilaf khade hue, kisi aur se kaisa darna", he said. Last month, Kumar called off his alliance with Lalu Yadav's RJD and the Congress to realign with the BJP.

The remarks followed a new report asserting that US intelligence has assessed that Pyongyang has successfully produced a nuclear warhead that can fit inside its missiles. The S&P 500 CBOE Volatility Index (or VIX) measures uncertainty in the market.

All three USA stock market indices were down Wednesday morning. The Nasdaq Composite Index fell 2.1% and closed the day at 6,216.87.

Global benchmark Brent also fell 0.9 per cent to $51.44, after Thursday's 1.5 per cent drop.

Asian stocks slumped on Friday as tensions ramped up between the United States and North Korea, sending investors into less risky assets such as gold, the yen and USA government bonds.

10-Year Treasury Yield 2.24% -0.01%. The greenback was down 1.1 against the franc, its worst drop in more than six weeks.

The dollar index .DXY , which measures the US currency against a basket of other major currencies, fell 0.14 percent. July's 0.1 percent increase in consumer prices suggests that the Federal Reserve may be less likely to raise interest rates next month.

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Spot gold prices were little changed at $1,286.05 an ounce, after touching a two-month high earlier.

The influential financial stocks were among the biggest drags on the index, with Royal Bank of Canada down 1.5 percent to C$92.88, and Manulife Financial Corp falling 4.7 per cent to C$24.43, its largest drop since early August past year.

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