South Korea, Japan Warn Kim Against Firing Missile at Guam

Markets jittery over North Korea as UK trade deficit widens - business live

North Korea said it was completing plans to fire four intermediate-range missiles over Japan to land near the U.S. Pacific island territory of Guam in an unusually detailed threat.

North Korea "has no intentions of backing down".

The latest tensions began after US President Donald Trump on Tuesday warned North Korea that it would face "fire and fury" if it threatened the United States.

"You'd need to see something more tangible than just rhetoric for a broader pullback", he said.

All 11 major S&P sectors were lower and the consumer discretionary index was the biggest loser with a 1 percent drop.

"I think (the North Korea situation) is going to continue to provide a little bit of support, but not enough to push prices significantly higher from here", said Hynes. The Shanghai Composite Index lost 0.2 percent to 3,273.71 and Hong Kong's Hang Seng was off 0.2 percent at 27,803.55.

Precious metals miners were among a smattering of United Kingdom stocks enjoying a stronger session as investors set course for safe havens.

Even before tensions between the USA and North Korea escalated to new levels on Tuesday, Alaska Gov. Bill Walker told Politico he "of course" is concerned about North Korea directing a missile attack at his state.

"Noting that military tension or an armed conflict on the Korean Peninsula will not benefit any country, the NSC standing committee made a decision to take all necessary steps to ease tension and maintain peace under close cooperation with the United States and other key nations based on the strong joint defense readiness of South Korean and USA joint forces", Park told a press briefing.

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Guam is also armed with the U.S. Army's missile defense system - known as the Terminal High Altitude Area Defense, or THAAD - the same system recently installed in South Korea.

In Frankfurt, the DAX 30 dropped 1.1% to 12,154.00, and in Paris, the CAC 40 index was fell 1.4% to 5,145.70. The stock lost $142.20 to $1,906.80.

Nevsun Resources Ltd offset some of the material group's gains, plunging 18.4 percent to C$2.685 after the company reported disappointing quarterly results. That's the index's lowest level in two months.

Spot gold added 0.4 percent to $1,265.22 an ounce, pulling away from the previous session's two-week lows.

This week, the S&P 500 started on a stronger note by rising to new record high price levels. The Greenback retreated from its high into the close after Trump's warning sent investors into the safety of the Japanese Yen and other currencies.

Oil prices rose after a report showed USA refineries processed record amounts of crude in the latest week, eating into inventories.

U.S. Treasury yields rose on Tuesday as investors reacted to the job openings report. The US currency found only limited support from a speech by New York Fed President William Dudley, who reiterated the Fed's expectations that inflation will rise to 2% over the medium term.

Oil prices settled lower after a volatile session on increasing exports from key OPEC producers and news of lower crude shipments from Saudi Arabia.

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