S&P falls 1.4 percent in safety flight on North Korea tensions

S&P falls 1.4 percent in safety flight on North Korea tensions

USA indexes were trading at session lows on Thursday afternoon, with the Dow and the Nasdaq posting triple-digit point declines, as investors fretted over escalating tensions between the United States and North Korea.

In 3.23pm trading in NY, the Dow Jones Industrial Average gave up 0.7 percent, while the Nasdaq Composite Index dropped 1.8 percent. The NASDAQ Composite Index fell 0.28% and closed the day at 6,352.33. It's also called the "fear index".

A man watches a television screen showing U.S. President Donald Trump, left, and North Korean leader Kim Jong Un during a news program at the Seoul Train Station on Thursday.

On the currency markets, the pound slipped 0.1% against the dollar to $1.2968 but rose 0.1% against the euro to 1.1034 euros.

The 10-year notes US10YT=RR last fell 3/32 in price to yield 2.2655 percent, from 2.257 percent late on Monday.

Investors piled into safe-haven assets such as United States government bonds, gold and the Japanese yen and sold off shares. The UK's FTSE 100 Index slid 0.6 percent, while Germany's DAX Index retreated 1.1 percent and France's CAC 40 Index gave up 1.4 percent.

According to data from Bloomberg, the price of gold rose as much as 1.59% to £1,276, while the price of silver spiked 2.61% to $16.84 as some investors looked to safe-haven assets following the growing row.

The FTSE 100 firm announced in March previous year that it would run its US-based asset management operation, its UK-based wealth unit, an emerging markets division and Nedbank in South Africa as separate businesses.

"This acquisition and the launch of our direct-to-consumer services mark an entirely new growth strategy for the company, one that takes advantage of the incredible opportunity that changing technology provides us to leverage the strength of our great brands", Iger noted.

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 fit inside its missiles.

"Risk assets remain out of favour, as the threat of a conflict with North Korea pushes traders towards havens", said Joshua Mahony, market analyst at IG.

Shares of Macy's M.N tumbled 8.3 percent and Kohl's KSS.N 7.3 percent after the department store operators reported a drop in quarterly same-store sales that stoked concerns that their turnaround may still be a long way off.

In oil, the price of Brent crude sunk by 0.5% to 51.65 USA dollars a barrel amid concerns about over supply in the market.

Elsewhere in commodities, the September crude contract advanced 20 cents to $49.76 per barrel and the September natural gas contract was up seven cents to $2.95 per mmBTU.

The pound was up 0.3% against the euro at 1.1091 and down nearly 0.1% on the dollar at 1.2994.

The U.S. dollar fell to 110.48 yen from 110.72 yen late Monday.

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