North Korea talk drags global stocks lower; gold, yen rise

Guam's residents feel US patriotism but growing concern

Consumer-focused stocks, media companies and banks accounted for much of the market decline. A batch of disappointing earnings results from big retail chains and simmering tensions between the US and North Korea weighed on the market. The Dow Jones industrial average slid 36.64 points, or 0.2 percent, to 22,048.70.

The tech-heavy Nasdaq composite bore the brunt of the sell-off, losing 135.46 points to 6,216.87. The Russell 2000 index of smaller-company stocks gave up 6 points, or 0.5 percent, to 1,390.

Following Trump's remarks, North Korea on Wednesday said it was "carefully examining" plans for a missile attack on the US Pacific territory of Guam, which is home to a large US military base. The number of people who applied for USA unemployment-insurance benefits rose by 3,000 to 244,000 in the week that ended August 5, the Labor Department reported.

"North Korea poses a serious threat to the USA and all options should be on the table to protect the American people", Nelson said.

Thursday also marked the worst one-day percentage drop for all three benchmarks since May 17, (http://www.marketwatch.com/story/us-stock-futures-slide-as-concerns-over-trump-grow-2017-05-17) according to FactSet data. Discovery Communications fell 94 cents, or 3.9 percent, to $23.36.

Travel companies Priceline.com and TripAdvisor also weighed on markets, with shares falling more than 7%. Financials .SPSY fell the most, down about 1 percent. The stock fell $2.25 to $20.79. Dillard's slumped 15.5 percent after the chain booked a loss for the second quarter as increased inventory led to big discounts.

Stocks to watch: Blue Apron shares tumbled almost 18%, despite a beat on revenue (http://www.marketwatch.com/story/blue-apron-shares-climb-after-revenue-beat-better-customer-revenue-2017-08-10). Kohl's also declined, sliding $3.62, or 8.6 percent, to $38.31. While both firms reported strong quarterly revenue gains, they were more cautious about growth prospects ahead. It was last up 1.1 per cent at 1.1321 per euro. Prices for bonds and gold headed higher.

And U.S. wholesale prices (http://www.marketwatch.com/story/us-wholesale-inflation-fall-01-in-july-first-decline-in-almost-a-year-2017-08-10) declined in July for the first time in nearly a year, providing additional evidence of tepid inflation that is bedeviling the Federal Reserve. Marco Rubio, R-Fla., who sits on the U.S. Foreign Relations Committee, warned North Korea about what would happen if it launched a nuclear strike.

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Benchmark U.S. crude fell 83 cents, or 1.7 percent, to $48.73 a barrel on the New York Mercantile Exchange. Brent crude, used to price worldwide oils, slid 52 cents, or 1 percent, to $52.18.

And in a textbook-type cross-asset move toward safety in times of trouble, the Japanese yen hit an eight-week high against the US dollar while spot gold also reached a two-month high.

The technology sector .SPLRCT was the S&P's biggest drag with a 2.2 per cent drop.

It was down 0.1 percent at 109.07 yen JPY= , after retreating 0.8 percent on Thursday. The euro rose to $1.1753 from $1.1752.

The dollar also slipped 0.26 percent lower against the yen to 110.01 yen.

The dollar index, which tracks the greenback against six rival currencies, was down 0.12 percent to 93.53, after rising as high as 93.888 earlier in the session.

The Swiss franc has gained about 1.3 percent against the dollar so far this week, while the yen has advanced around 1.5 percent in the same period. Tokyo's Nikkei 225 tumbled 1.3 percent to 19,738.71 while Seoul's Kospi fell 1.1 percent to 2,368.39.

The dollar index .DXY , which measures the US currency against a basket of other major currencies, fell 0.14 percent. It is still the best performing G10 currency so far this year with gains of more than 11 percent against the dollar.

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