North Korea Threat Casts an Ominous Cloud -- Here's Where Wall Street Stands

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In New York, the Dow Jones industrial average fell 36.64 points to 22,048.70, the S&P 500 index inched down 0.90 of a point to 2,474.02 and the Nasdaq composite index lost 18.13 points to 6,352.33.

The Nikkei slumped to its lowest close for nearly three months on Wednesday, leading an Asia-wide sell-off sparked by President Donald Trump´s apocalyptic warning over North Korea´s weapons programme.

Just hours after U.S. President Donald Trump told North Korea that any threat to the United States would be met with "fire and fury", a spokesman for the Korean People's Army said in a statement carried by the North's state-run KCNA news agency that it was considering a strike aimed at U.S. military bases on Guam. Broadcom gave up $5.72, or 2.3 percent, to $243.45. Bucking the trend, shares of Travelers and those of Home Depot rose, recently up 1.1 percent and 1 percent respectively, posting the biggest percentage gains in the Dow.

BONDS: Bond prices rose.

South Korea's KOSPI fell 1.7 percent on Friday to its lowest level since May 24, but its losses for the week are a relatively modest 3.2 percent.

A series of downbeat corporate reports also weighed on US stocks.

Michael Kors climbed 21.5 percent after the luxury handbag and apparel designer and retailer's latest quarterly results beat analysts' forecasts as sales improved. Markets had sold off then after House leaders pulled their health care bill before a crucial vote. TripAdvisor shares shed $1.75, or 4.4 percent, to $37.80. Dillard's slumped 15.9 percent after the chain booked a loss for the quarter as increased inventory led to big discounts. The stock was the biggest decliner in the S&P 500, losing $166.50 to $1,882.50. The yield on the 10-year Treasury note held steady at 2.26 percent.

North Korea develops its nuclear programme "at an alarming rate"
New U.N. sanctions condemning North Korea's rapidly developing nuclear program drew fresh ire and threats from the North. But they're also saying that the possibility of war with the reclusive Asian nation is greater than it was a decade ago.

In commodities trading, USA crude oil was wallowing around $49 to the barrel amid speculation that a predicted gain in American output will offset OPEC-led efforts to trim a global glut.

The dollar weakened after news that USA producer prices unexpectedly fell in July, recording their biggest drop in almost a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase. Brent crude, the worldwide standard, lost 23 cents to $52.14 a barrel in London.

In other energy futures trading, wholesale gasoline was little changed at $1.62 a gallon, heating oil rose 2 cents to $1.65 a gallon and natural gas rose 6 cents to $2.88 per 1,000 cubic feet. It was last up 1.1 per cent at 1.1321 per euro.

As of 5:00 p.m. EST on Tuesday, gold was sitting at $1,260.90 per ounce; the yellow metal soared to a seven-week high midway through last week. Copper fell 2 cents to $2.93 a pound. Britain's FTSE 100 added 0.1 percent.

In Europe, Germany's DAX rose 0.3 percent, while France's CAC 40 added 0.2 percent.

Silver edged down 0.3% to $17.04 per ounce after hitting $17.24, its highest since June 14, in the previous session. Earlier in Asia, Japan's benchmark Nikkei 225 slipped less than 0.1 percent, while Hong Kong's Hang Seng slid 1.1 percent.

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