Global stocks fall on rising unease over North Korea

Dow goes for 10 record highs in a row

In a note to investors, Paul Christopher, head global market strategist, and Tracie McMillion, head of global asset allocation, suggest, "the threat of a nuclear weapon is certainly more serious than previous threats, but that threat also may increase the probability of a diplomatic solution".

The yen is often sought in times of geopolitical tension, partly because Japan has a big current account surplus, and it being the world's biggest creditor nation, there is an assumption Japanese investors may repatriate their foreign holdings in times of heightened global uncertainty.

Railroad stocks have shown a strong move to the upside on the day, driving the Dow Jones Railroads Index up by 1.3 percent.

In currency markets, the dollar dropped as low as 109.74 yen, its lowest in about two months, from 110.39 yen in NY and the upper half of the 110-yen range in Tokyo earlier Tuesday.

Gold added to early gains, and the dollar pulled back, following the release of USA data showing a cooler reading for inflation at the wholesale level. Australia's S&P/ASX 200 edged down almost 0.1 percent to 5,760.90, while South Korea's Kospi fell 0.5 percent to 2,357.84.

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The sell off in stocks and flight to safety gathered pace in early European trade as the already cool relationship between the United States and North Korea turned icy following hard-nosed rhetoric from both nations.

The Korean won continued to fall versus the dollar, down 0.13 per cent to 1,143.5 on Friday for a 1.6 per cent decline on the week.

Markets are now awaiting U.S. consumer price data for July, due later today.

Stocks in Tokyo, one of the nearest capitals to Pyongyang, fell 1.3% to 19,738.71, while in Europe, the FTSE 100 lost 0.6% in morning trade, and the CAC 40 in Paris fell 1.2%.

Baker Avenue's Lip said the US market was higher due to "bargain hunters", but "there's more room for the market to come down".

Markets extend losses as Korea tensions escalate
Japan is the world's biggest creditor country and there is an assumption that investors there will repatriate funds in a crisis. The dollar index.DXY, which tracks the greenback against six rival currencies, was down 0.17 percent to 93.391.

The euro held steady at $1.1776.

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

S&P 500 e-mini futures were down 0.2 percent, while the dollar dipped 0.2 percent against its perceived safe-haven Japanese counterpart to 110.12 yen.

The yield on the 10-year Treasury bond fell to 2.2% and is approaching its lowest level of the year. U.S. gold futures for December delivery rose 0.2 per cent to $1,281.90 per ounce on Thursday.

Ongoing global glut concerns lingered in oil markets despite a bigger-than-expected draw in U.S. crude inventories, leaving prices volatile. Northern Star Resources was up 3 per cent, while Evolution Mining rose 2 per cent, Newcrest Mining gained 2.3 per cent and Resolute Mining rose 2.1 per cent. Westgold Resources was the biggest gainer, rising 6.6 per cent.

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