US stocks slide amid heightened US-North Korea tensions

Escalating US-North Korea tensions hit markets

Escalating US-North Korea tensions hit markets

The major index futures are now pointing to a modestly higher open for the markets, with the Dow futures up by 21 points.

TECH SLIDE: Losses among technology stocks led the market slide.

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

"I will tell you this, North Korea better get their act together or they're going to be in trouble like few nations ever have been in trouble in this world", Trump said. The slide deepened after Trump's remarks on North Korea aired.

With Japan and South Korea also warning North Korea, investors are taking a step back to see what is happening before chipping in back, Bakhos said. "Hopefully Kim Jong Un will find another path!"

On the US economic front, a report released by the Labor Department showed a modest uptick in consumer prices in the the month of July. Wall Street was poised for a soft opening with S&P futures and Dow futures both down 0.2 percent.

A Labor Department report showed its producer price index posted a surprise drop in July, down 0.1% for the largest slide in nearly a year. Australia's S&P/ASX 200 edged down almost 0.1 percent. Its rouble-based peer MICEX shed 1.2 percent to 1,937 points, its lowest since August 1.

The major averages ended the session just off their worst levels of the day.

The S&P 500 index dropped 35.81 points to 2,438.21, while the Nasdaq composite index slid 135.46 points to 6,216.87.

The rhetoric, which began late Tuesday and continued into Friday, cracked the calm that has enveloped the market for months and interrupted stocks' march higher. The Nasdaq composite lost 18 points, or 0.3 percent, to 6,352.

THE QUOTE: "Inflation - or lack of - has been an ongoing problem for the central bank and some policy makers have voiced concerns about this in recent months as they consider whether to raise interest rates again this year", said Craig Erlam, senior market analyst at OANDA. The Russell 2000 index of smaller-company stocks gave up 13.20 points, or 0.9 percent, to 1,396.95.

The price of crude oil dropped more than two percent Thursday, the cost of a barrel falling to $48.49. Meanwhile, after jumping $10.80 to $1,290.10 an ounce in the previous session, gold futures are climbing $6.50 to $1,296.60 an ounce.

OIL: Benchmark U.S. crude lost 24 cents to $48.37 per barrel on the on the New York Mercantile Exchange while Brent crude, used to price worldwide oils, declined 20 cents to $51.70 per barrel in London. Against the euro, the dollar is valued at $1.826 compared to yesterday's $1.1772.

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