USA stocks slip as North Korea tensions mount

Financial Markets- US stocks close lower snapping Dow's 10-day winning streak

Amid this renewed flare-up in tensions with North Korea, Capital Economics made a decision to take a look at how the precious metal has responded to geopolitical risk events since 1985. The yen also advanced further after a brief pull-back overnight.

On the currency markets, the pound was down to a three-week low against the U.S. dollar but mainly due to earlier disappointing output and trade data.

Against the dollar, the franc surged 0.6 per cent to 0.9688 francs, reversing a two-week losing streak.

The euro was struggling on Thursday as it came under pressure from the latest bout of risk-off, with traders seeking to unwind some of their positions following the strong rally seen over the past month.

Shire fell 1.1%, as the pharmaceutical firm shares were hit by a downgrade to Equal Weight from Overweight by Barclays.

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MTS Gold president Kritcharat Hirunyasiri said that if North Korea ignores US President Donald Trump's warning by testing its missiles with the target of Guam, gold prices will shoot to above $1,300 per ounce. The September copper contract was down two cents to US$2.91 a pound.

Wall Street's fear gauge - the CBOE Volatility Index or the VIX - surged 44%, its second-biggest one-day jump of the year. On an annual basis, output rose by 0.3%, up from -0.2% in May. The index bounced off its lowest closing level in six months.

Platinum climbed 1.1% to $987 per ounce after touching $991.50, its highest since March 6.

Losses in health care and consumer-focused companies pulled US stocks broadly lower Tuesday, snapping a 10-day winning streak for the Dow Jones industrial average.

"The CPI data was very muted and not something which the Federal Reserve is going to be happy to look at", said Think Markets analyst Naeem Aslam.

Trump speaks with Guam's governor in extremely candid phone call
Trump also said the nation's nuclear arsenal is in "in tip-top shape" and getting stronger. Trump opened the conversation by telling Calvo, " Good morning, good morning.

In Europe, the pan-continental STOXX 600 index fell 0.9 per cent, with falls deepening after a vehicle rammed a group of soldiers in Paris, injuring six, in what officials said was a suspected terrorist attack. The 12-month rate missed forecasts too as it dipped to 1.9% from 2.0%. Economists had expected prices to rise by 0.2 percent. Expectations were for 240k and compares with a revised 241k in the prior week.

CURRENCIES: The dollar fell to 109.97 yen from 110.48 yen late Tuesday. The dollar index was modestly up during Asian trading to last trade at 93.48, linked to the weaker euro.

In commodities, oil prices slid on doubts over whether OPEC production cuts are draining a global supply glut. Lockheed Martin, Raytheon, General Dynamics and Northrop Grumman all rose and the Dow Jones U.S. defense index was up 1.6 percent after hitting a record high.

Cempra (CEMP) is leading the biotech sector lower, extending the pullback seen over the course of the previous session. Prices actually downticked in July for the first time in nearly a year. The Korean currency last traded at 1,137.70 won to the dollar.

Also underpinning a move higher in the precious metal, was data showing a continued slowdown in the pace of inflation as consumer prices rose less than expected in July.

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