U.S. stocks tumble on North Korea worries

U.S. stocks tumble on North Korea worries

Trump, whose threat this week to bring "fire and fury" was dismissed by North Korea, said Thursday that statement might not have been "tough enough".

The strength on Wall Street is partly due to bargain hunting, with traders picking up stocks at reduced levels following the pullback seen over the past few sessions.

Meanwhile, the Russell 2000 index of small-cap stocks looked poised for a weekly drop of almost 3%, its biggest one-week decline since February 2016.

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

Nvidia fell $7.37, or 4.3 percent, to $164.74, while Advanced Micro Devices gave up 71 cents, or 5.5 percent, to $12.12.

The Labor Department said its consumer price index inched up by 0.1% in July after coming in unchanged in June.

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Investors bought bonds after the Labor Department said the consumer-price index increased 0.1% in July from the previous month.

Trump's threats have escalated since reports broke at the beginning of the week that North Korea had successfully produced a nuclear warhead that could be fitted inside its missiles.

The president continued tweeting on Friday, saying that military solutions to the crisis are "locked and loaded". North Korea has since threatened to launch missiles at the US territory of Guam, and the country previously threatened "all-out war, wiping out all the strongholds of enemies, including the USA mainland".

The one-upmanship in the "war of words" between Donald Trump and Kim Jong-un came to accelerate the fall of the stock market. Indeed, US equities sold off at the open and added to those losses this afternoon following President Trump's latest warning to North Korea.

Computer hardware stocks rebounded following recent weakness, with the NYSE Arca Computer Hardware Index climbing by 1.4 percent.

On August 10, the S&P 500 started the day lower and trended lower to its lowest level in a month. Bank of New York Mellon slid $2.09, or 3.9 percent, to $51.95, while Citizens Financial Group shed $1.32, or 3.8 percent, to $33.71. Autodesk (ADSK) and Red Hat (RHT) posted notable gains.

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Significant strength was also visible among software stocks, as reflected by the 1.2 percent gain posted by the Dow Jones Software Index.

The rhetoric, which began late Tuesday and continued into Friday, interrupted stocks' march higher and cracked the calm that has enveloped the market for months. Hong Kong's Hang Seng Index plunged by 2 percent, while South Korea's Kospi Index slumped by 1.7 percent.

The major European also saw further downside on the day. Apple was down 2.3 percent, weighing most on the index.

Investors opted for the perceived safety of US Treasuries, which pushed the yield on the 10-year note three basis points lower to 2.21%.

The New York stock Exchange has chained three consecutive sessions of decline in response in a face-to-face meetings between the United States and North Korea.

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