The price of gold climbed to the highest levels in two months on Thursday as the United States and North Korea exchanged more threats, prompting investors to buy bullion as a safe haven asset. USA -traded Nikkei futures fell 2 percent to their lowest since mid-May.
In currency markets, the Canadian dollar was trading at an average price of 78.71 cents USA, down 0.20 of a U.S. cent.
The broad-based S&P 500 was hit even harder, dropping 1.5 percent to close at 2,438.22, while the tech-rich Nasdaq Composite Index lost 2.2 percent 6,216.87.
Asian equities fell on Thursday, retreating for a third consecutive session from their nearly 10-year intraday high touched on Tuesday, as tensions between Washington and Pyongyang continued to temper risk appetite.
Gold rose to two-month highs on Friday as investors sought refuge from the uncertainty of escalating security tensions between North Korea and the US.
Trump took specific aim at North Korean leader Kim Jong Un, saying, he had "disrespected our country greatly", and would not be "getting away with it".
Wall Street closed sharply lower, with Dow Jones down over 200 points on Thursday.
US stocks closed lower on Tuesday after Trump's comments sparked a late afternoon selling.
"Geopolitics splashed cold water on the markets", said JJ Kinahan, chief strategist at TD Ameritrade.
"U.S. markets had previously been becalmed amidst the Goldilocks scenario of strong profit growth, low interest rates and full valuations". "It's hard to tell whether this could trigger a stronger bout of risk aversion".
Despite today's jump, gold still sits well below its 52-week high of over $1,350 per ounce, which it reached last summer.
CURRENCY: The dollar declined to 109.79 yen from Tuesday's 110.34 yen.
"The yen is the big story really".
A weaker-than-expected July consumer price data also supported the recovery. Coca-Cola HBC's share price now stands 1.12 percent higher at 2,621.00p.
The data comes amid tepid inflation that has remained below the Fed's 2 percent target, despite low unemployment. The Japanese currency rallied broadly against most major currencies. Copper, the bellwether industrial metal, was set for its first weekly drop in five weeks. 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.
Crude futures meanwhile extended losses on fears of slowing demand and lingering concerns over global oversupply.
J.C. Penney slumped 24.4 percent to a record low after the retailer reported a bigger-than-expected quarterly loss. Regions Financial shed 23 cents, or 1.6 percent, to $14.07. Regeneron Pharmaceuticals led the pack, adding $4.47, or 1 percent, to $474.15.
Gold Rallies On Geopolitical Tensions, NK Threatens Guam
The Nasdaq Composite , meanwhile, was facing its worst week since the one ended December 2, which logged a loss of just over 2%. If there's ultimately no impact on the global economy and corporate profits, it shouldn't disrupt the stock market either.
PlayerWatch: New England Patriots
Full-time officials will be hired at each of the seven officiating positions and may serve on each of the 17 officiating crews. But the average cost of chartering an aircraft for an entire season can run a team around $4 million depending on the charter.
Uber investor sues former CEO Kalanick for fraud
Benchmark is apparently having none of this and is pushing for the lawsuit in order to prevent Kalanick's return . Uber is also battling a lawsuit with Alphabet Inc.'s self-driving auto business and a probe by the U.S.
Manchester City Make Enquiry About Key Barcelona Player
Mohamed Salah (34.3 million pounds): Another player that Chelsea let go could come and haunt them this coming season. The Manchester City boss wants to raid his former club to reunite with Spanish global Sergio Busquets.
Indians acquire outfielder Jay Bruce from Mets
He could have received an $18 million qualifying offer at the end of this season, but the Mets chose to trade him now. The unexpected twist in this Bruce trade is that the Yankees reportedly showed a lot of interest in him as well.
'Toilet, Ek Prem Katha' review: A film not to be ignored
Akshay plays a gamut of emotions as the simpleton Keshav Pandit who can do anything for the woman he loves- Jaya. Akshay plays Keshav the husband whose father believes in every superstition and religious occult in the book.