Wall Street stocks dropped early Thursday after North Korea announced a plan to send missiles towards Guam, raising the stakes of a nuclear standoff with the United States.
President Donald Trump told reporters that further threats from North Korea would be "met with fire, fury and frankly power the likes of which this world has never seen before". Meanwhile, the country's KOSPI Composite Index SEU, -1.10% fell 1.1% to 2,368.39.
The S&P 500 volatility index jumped again on the latest jawboning in the US-North Korea standoff.
The headlines about North Korea served as a spark to jolt investors out of complacency on the heels of an extended period of calm in the market, said McClellan who shared the following chart in a report.
The greenback also came under pressure after New York Federal Reserve President William Dudley cautioned it would "take some time" for U.S. inflation to reach the bank's two percent target, the latest warning price pressures remain muted.
"I do think I expect inflation to also start to move higher in the medium term but probably not get all the way back to 2-percent on a year-over-year basis, because, remember, we've had these very weak inflation readings for a number of month", Dudley said. Macy's slumped 9.7 percent after reporting its 10th straight decline in a key sales measure.
The Nasdaq is up 833.75 points, or 15.5 percent.
The kiwi has been on the back foot all week ahead of the Reserve Bank of New Zealand's (RBNZ) policy decision due on Thursday, when it is widely expected to keep interest rates unchanged at a record low 1.75 percent.
Jadeja valuable for team, says skipper Kohli
The right-hander had a 50th Test to remember as he scored his 13th Test century to help India amass a massive first innings total. Ashwin finished things off just before tea, ending a token resistance from the tail, making it 2-0 with one to play.
The yen on Friday added to a strong weekly rally against the dollar of close to 1.5 percent, hitting its highest versus the greenback in nearly four months, at 108.73 yen. Brent crude, used to price global oils, slid 80 cents, or 1.5 percent, to $51.90. For the week, the Dow fell 1.1%.
In an inversion of the curve, the spot VIX rose above VIX futures, meaning traders are paying more for protection against a sudden sharp drop on the S&P than for protection in the future.
With Asian bourses and US stock futures weakening early on Wednesday, the safe-haven 10-year Treasury yield was last down 3 basis points. Netflix lost 1.5 per cent.
The dollar came under immediate pressure and gold moved to fresh 2-month highs just above $1,290 per ounce. Copper fell 2 cents to $2.90 a pound.
The dollar hit a new eight-week low against the yen after the data, dropping to as low as 109.32 yen.
Retailers were also falling Thursday.
Platinum gained 1.1 percent to $982.40 per ounce after touching $983.60, the highest since April 18. MCX Gold was trading 0.25 per cent up at Rs 28,915 per 10 gram around 10.45 am (IST). Earlier in Asia, Japan's benchmark Nikkei 225 slipped less than 0.1 percent, while Hong Kong's Hang Seng slid 1.1 percent. Australia's S&P/ASX 200 edged down almost 0.1 percent.
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