Stocks slide on continued concern over tension between United States and North Korea

There was a late selling spree on Wall Street after the President's response

There was a late selling spree on Wall Street after the President's response

On Wednesday, the Dow closed down 0.2% at 22,048.70, the S&P 500 closed less than 0.1% lower at 2,474.02, and the Nasdaq Composite Index dropped 0.3% to 6,352.33. They are looking for confirmation the Fed is sticking with plans for a possible December interest rate hike.

North Korea's rapidly advancing nuclear and missile programs could spark an arms race in Northeast Asia and have a nuclear domino effect on South Korea and Japan.

More than 430 stocks from all US exchanges hit their lowest levels in 52 weeks or more on Thursday, the most for any session since mid-November right after Trump was elected.

Coupled with a continued simmering tension between the U.S. and North Korea, that trio of data led to another positive day for safe haven currencies such as the Japanese yen and Swiss franc (CHF). Economists had expected prices to rise by 0.2%. As well, producer prices in Japan rose 0.3% on month in July, a tick higher than the 0.2% gain seen and at a 2.6% gain on year, also beating expectations. The data suggested little sign of inflationary pressure within the economy.

North Korea appears more emboldened than ever, and, due to years of failed American foreign policy, it is closer than ever to possessing the weapons to finally put some bite behind its bark.

"After today's data and commentary from Dudley, if we see even a near-miss on CPI tomorrow, I think the dollar has got quite a bit of room to sell off", Sweeting said.

The pan-European FTSEurofirst 300 index .FTEU3 lost 1.19 percent.

Overall, earnings growth for MSCI Europe companies was tracking 24 percent, Thomson Reuters data showed, while MSCI Euro zone companies were seeing 16 percent earnings growth for the second quarter. The dollar index fell to a session low of 93.35 from 93.56 before it climbed to 93.40.

Gold, another classic safe haven asset, was trading at around US$1,285 per ounce, up more than two percent this week and near a nine-week high.

As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 1.5 basis points at 2.226%.

Financial stocks underperformed after U.S. Treasury yields fell as bond prices rose in a flight to safety by nervous investors. U.S. gold futures for December delivery rose 0.2 per cent to $1,281.90 per ounce on Thursday.

US credit card processing company Vantiv secured a deal to buy British-based rival Worldpay for 8 billion pounds ($10.4 billion) Wednesday in a bid to create a $29 billion global payments powerhouse.

US crude rose 0.43 percent to $48.80 per barrel and Brent was last at $52.01, up 0.21 percent on the day.

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