Wall Street opens lower as North Korea tensions escalate

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

Eight of the 11 major S&P sectors were lower, with the consumer discretionary index's 0.59 per cent fall leading the decliners.

Meanwhile, investors moved money into assets seen as safe havens.

The Dow Jones Industrial Average was down 82.37 points, or 0.37 percent, to 22,002.97, the S&P 500 had lost 8.34 points, or 0.34 percent, to 2,466.58 and the Nasdaq Composite had dropped 38.99 points, or 0.61 percent, to 6,331.47.

But despite the largest percentage drop in over a month on a global equities index, USA equities ended only slightly lower as healthy corporate earnings and a recent string of strong economic data enticed investors into beaten-down stocks.

Tillerson's tone was in sharp contrast to that of USA president Donald Trump, who warned on Tuesday any North Korean threat to the USA would be met with "fire and fury".

Trump followed his warning with a tweet yesterday about the strength of the American nuclear arsenal, but expressed hope it would not need to be used. The stock lost $142.20 to $1,906.80.

"These developments suggest that risk aversion caused by geopolitical tensions in North Asia are temporary in nature, as long as it does not involve military conflict".

South Korea's won dropped 0.9 per cent against the U.S. dollar to its lowest close since July 13.

While many are concerned about the recent threats by North Korea it should be pointed out that this is not the first time that North Korea has threatened Guam.

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The U.S. dollar fell to 110.48 yen from 110.72 yen late Monday. Netflix lost 1.5 percent.

Against the Swiss franc EURCHF=EBS, it fared slightly better and was broadly flat on the day at 1.1319 francs per euro.

Benchmark US crude fell 22 cents to 49.17 dollars a barrel on the New York Mercantile Exchange. Core prices had been expected to rise by 0.2 percent.

In a statement carried by the North's official Korean Central News Agency, Gen. Kim Rak Gyom, commander of the Strategic Force of the Korean People's Army, said the country plans to launch four Hwasong-12 intermediate or long-range ballistic missiles that will "cross the sky above Shimane, Hiroshima and Koichi prefectures of Japan" and hit waters 30 to 40 kilometers away from Guam.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.25 percent from 2.26 percent late Tuesday. Brent crude, the global standard, lost 23 cents to 52.14 dollars a barrel in London.

Spot gold crept up 0.1% to US$1,278.51 per ounce at 0656 GMT. The commodity touched over $1,284.40 an ounce on Wednesday, which marked the highest intraday price in nearly two months.

Gold prices jumped $10.70 to $1,290.00 U.S.an ounce.

The broad-based Stoxx Europe 600 stock index dropped 0.5 percent in early trading, with key indices, such as Britain's FTSE 100, Germany's DAX and France's CAC all down 0.5 percent or more.

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