N. Korea tension triggers run to safety; stocks off, gold up

Trade Center left and 7 World Trade Center in New York. Technology companies were leading a broad slide in U.S. stocks in early trading Thursday Aug. 10 2017 as investors pored over the

Tensions spiked yet further when North Korean state media later said Pyongyang was considering strikes near U.S. military installations in Guam.

Among the gainers on the rising tensions over the Korean Peninsula, the yen is up 0.3 percent at 110 to the dollar while the Swiss franc has gained 0.6 percent.

Asian stock markets slumped on Friday following overnight losses on Wall Street as U.S. President Donald Trump's bellicose remarks prompted investors to unload shares in companies that have been on the rise in recent months. Japan's Nikkei 225 Index edged down by 0.1 percent, while Hong Kong's Hang Seng Index tumbled by 1.1 percent. The Dow is down 123.95 points or 0.6 percent at 21,924.75, the Nasdaq is down 95.89 points or 1.5 percent at 6,256.44 and the S&P 500 is down 23.40 points or 1 percent at 2,450.62.

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 percent to C$24.43, its largest drop since early August previous year.

On Thursday the greenback had shed 0.8 percent versus the yen, with the Japanese currency rallying broadly against most major currencies.

Emerging market stocks lost 1.08 percent. The EUR/JPY was down 0.54% to trade at 128.924 Yen while the GBP/JPY was down 0.58% to trade at 142.489 Yen.

The dollar index fell 0.05 percent, with the euro down 0.03 percent to $1.1746. Japan is the world's biggest creditor country and there is an assumption investors there will repatriate funds in a crisis.

In Europe, Britain's FTSE 100 was down 1.1 percent to 7,306, while France's CAC 40 fell 1.1 percent to 5,058.

Manchester City jet off to Brighton ahead of Premier League opener
Craig Burley feels Pep Guardiola's back may be against the wall if he does not win any trophies with Man City this season. In the 34 years since we have experienced highs and very many lows. "It's going to be tough, very tough".

The Swiss franc was on track for its biggest daily gain against the euro since the Swiss National Bank removed its cap on the currency in January 2015.

Benchmark U.S. 10-year notes were last up 15/32 in price to yield 2.2281 percent, from 2.282 percent late on Tuesday.

Geopolitical concerns continue to weigh on Wall Street amid an ongoing escalation in tensions between the US and North Korea.

Economic docket: New York Federal Reserve President William Dudley said reaching the Fed's 2% inflation target this year is going to be tough (http://www.marketwatch.com/story/feds-dudley-says-2-inflation-target-will-remain-illusive-even-if-price-pressures-pick-up-2017-08-10) even if monthly data begins picking up. China's yuan firmed 0.3 percent against the dollar in a third straight day of gains to hit its firmest level in 10-months on the back of a stronger fixing and continued corporate dollar selling, while data shows inflation holding steady.

Spot gold added 1 percent to $1,272.83 an ounce.

Gold fell $2.10 to $1,262.60 an ounce.

OIL: Benchmark U.S. crude lost 24 cents to $48.37 per barrel on the on the New York Mercantile Exchange while Brent crude, used to price global oils, declined 20 cents to $51.70 per barrel in London. The tech-heavy Nasdaq composite lost 2.1 percent to 6,216.87.

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