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North Korea nerves push stocks down for third day, lift gold

August 10
14:07 2017

LONDON (Reuters) – World stocks fell for a third day on Thursday and investors moved back into the Swiss franc, yen and gold as North Korea ratcheted up tensions with the United States with a threat to land a missile just short of the U.S. territory of Guam.

Markets had seen a tentative recovery in risk appetite in U.S. and early Asian trading, but as the war of words resumed Asian stocks dropped back and London <.FTSE>, Frankfurt <.GDAXI> and Paris <.FCHI> all lost 0.5-1.2 percent. [.EU]

Futures markets <ESc1> were also pointing to a lower start for Wall Street, where missile makers have been the only significant gainers in recent days. Traders there were also digesting a rise in jobless claims and the biggest drop in producer prices in 11 months.<ECONG7>

Currency traders consolidated positions in the Japanese yen <JPY=EBS> and Swiss franc <CHF=>, and nudged up the dollar index <.DXY> by unwinding some of the recent big bets on the euro.

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