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Stocks down, gold up after North Korea threat

By Ed Adamczyk
Stocks down, gold up after North Korea threat
Stock prices fell on European, Asian and U.S. markets Wednesday with investors seeking safe havens as tensions between the United States and North Korea escalated. File Photo by John Angelillo/UPI | License Photo

Aug. 9 (UPI) -- European and U.S. stock exchanges fell Wednesday as investors reacted to rising tensions between the United States and North Korea.

Money moved to the relatively safer bond markets after President Donald Trump threatened North Korea on Tuesday with "fire and fury like the world has never seen."

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North Korea responded hours later, saying it was considering a missile strike on the U.S. Pacific territory of Guam.

The Dow Jones Industrial Average was down 50 points, or 0.62 percent, at the start of Wednesday; the Nasdaq Composite was down 44 points and the S&P 500 was down 8.

Globally, France's CAC 40 share index fell 1.5 percent by the afternoon; Germany's DAX fell 1.3 percent. Earlier; Japan's benchmark stock index closed down 1.3 percent and South Korea's declined 1.1 percent.

The limited fall in the price of Asian stocks suggests that stockholders are not unduly alarmed, experts said.

Investments regarded as safe havens had a strong showing in Europe Wednesday. The price of gold rose 1.2 percent and the Swiss franc had its best day in nearly three years.

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