Bargain Hunting May Contribute To Rebound On Wall Street

A street sign for Wall Street is seen outside the New York Stock Exchange in Manhattan New York City

Trump said on Thursday that his first threat to unleash "fire and fury" may not have been tough enough. The Dow Jones Industrial Average, which had been steadily hitting records, posted its biggest decline since May on Thursday, while the CBOE Volatility Index, known as Wall Street's "fear gauge", rose to its highest level of the year.

The ongoing war of words between US President Donald Trump and North Korea's Kim Jong Un, and their subsequent ratcheting up nuclear tensions, triggered a surge in the price of gold on Thursday (10 August), as safe-haven seeking investors flocked to buy the yellow metal.

A weaker-than-expected July consumer price data also supported the recovery.

Pyongyang said it was examining plans for attacking Guam, a USA territory in the Pacific with a military base.

The consumer price data, which pointed to weak inflation, could cause the Federal Reserve to hold off from raising rates again this year.

ASIA'S DAY: South Korea's Kospi sank 1.7 percent to 2,319.71 and Hong Kong's Hang Seng lost 2 percent to 26,883.51.

US stocks recovered temporarily late on Wednesday as investors appeared to brush off the geopolitical concerns following encouraging comments from Secretary of State Rex Tillerson.

Spot gold added 0.4 percent to $1,265.18 an ounce, pulling away from the previous session's two-week lows.

Outside the political arena, declines in a pair of technology stocks added to the cautious tone on the day.

Washington Nationals star Bryce Harper suffers ugly-looking knee injury
The series opener Friday was postponed after a lengthy rain delay to be a part of a day-night doubleheader Sunday. Rookie Andrew Stevenson came on to play center field in the second and Brian Goodwin moved from center to right.

The major averages all closed in positive territory, although the tech-heavy Nasdaq outperformed its counterparts.

Computer hardware stocks rebounded following recent weakness, with the NYSE Arca Computer Hardware Index climbing by 1.4 percent. The Dow slumped by 1.1 percent, while the Nasdaq and the S&P 500 tumbled by 1.5 percent and 1.4 percent, respectively.

The world equity markets have lost 1000 billions of dollars of funding since the beginning of the verbal sparring between the United States and North Korea.

Canada Goose Holdings Inc fell 3.6 percent to C$23.16, but the luxury down-coat maker initially jumped more than 7 percent after reporting smaller-than-expected quarterly loss.

Commodity-related stocks are among the worst performers against the backdrop of heightened political uncertainty after Trump further ratcheted up the rhetoric. The stock fell $169 to $1,879.98.

Germany's DAX dropped 0.3 per cent to 12,117.07 and the CAC 40 of France lost 0.3 per cent to 5,132.22.

The yield on the benchmark 10-year U.S. Treasury note fell to 2.255 percent from its U.S. close of 2.282 percent on Tuesday.

According to analyst Simona Gambarini, the price of gold "tends to rise in anticipation of a conflict but often falls when tensions turn into a full-blown war". Banks and department store shares also were among the big decliners.

On the currency front, the United States dollar is trading at 108.82 yen compared to the 109.20 yen it fetched at the close of NY trading on Thursday.

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