USA stocks close lower, snapping Dow's 10-day winning streak

USA stocks close lower, snapping Dow's 10-day winning streak

USA stocks close lower, snapping Dow's 10-day winning streak

Wall Street saw a stock sell-off on Thursday as rising tensions between the US and North Korea filled investors with worry.

The so-called fear gauge - the CBOE Volatility Index (VIX), the most widely followed barometer of expected USA stock market volatility, hit its highest since November 8, when Mr Trump was elected president.

"The war of words taking place between the U.S. and North Korea at the moment, which includes very real threats of action, is taking its toll on investor sentiment". But for the week the S&P 500 lost 1.3 percent, its worst weekly showing since March.

There were falls of almost 2% on South Korea's Kospi and Hong Kong's Hang Seng, with markets in mainland China and Australia also down - taking their cues from sharp losses on Wall Street earlier.

The Dow Jones Industrial Average .dji rose 38.9 points, or 0.18 percent, to 21,882.91, the S&P 500 .spx gained 5.46 points, or 0.22 percent, to 2,443.67 and the Nasdaq Composite .ixic added 41.86 points, or 0.67 percent, to 6,258.73.

Emerging market stocks lost 1.20 percent. The Swiss franc gave up some gains (http://www.marketwatch.com/story/swiss-franc-gives-up-some-gains-as-investors-monitor-us-north-korea-standoff-2017-08-10), as the USA dollar was slightly higher across the board.

U.S. President Donald Trump on Thursday warned Pyongyang again, saying his previous promise to unleash "fire and fury" may not have been strong enough after North Korea responded with a threat to fire missiles over Japan to land near the U.S. Pacific territory of Guam.

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Excessive geopolitical fears surrounding North Korea seemed to have receded, traders say, but activity is expected to stay subdued with Japanese markets closed on Friday.

Hong Kong and Shanghai followed Tokyo into the red, as China factory gate inflation came in slightly below forecast amid warnings from experts of a further slowdown in the world's second-largest economy.

The euro was 0.14 percent higher against the dollar.

The dollar index, which tracks the greenback against six rival currencies, was down 0.17 percent to 93.391.

Disappointing earnings also helped pull the market lower Wednesday.

Gold hit a two-month high of US$1,278 an ounce amid the nervousness.

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%. In bond markets, 10-year US Treasuries and Germany's ultra-safe government bonds were trading at their highest prices since June. It is now on track for its biggest weekly drop since the week before the November 8 USA presidential election.

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