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World markets slide for third day on political tension

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President Donald Trump's aggressive tone unnerved investors

Trump ratcheted up his rhetoric toward North Korea on Thursday, saying it should be "very, very nervous" if it even thinks about attacking the United States or its allies, after Pyongyang said it was making plans to fire missiles over Japan to land near the US Pacific territory of Guam. October Brent crude rose $0.56, or 1.1%, to $52.70.

Safe-haven demand rose after North Korea said it was "carefully examining" a plan to strike Guam, where a USA military base is located, shrugging off President Donald Trump's earlier warning that further threats to the United States will be met with "fire and fury". The U.S. dollar was down 0.3% at 110.01 yen which hurt the share prices of motor-vehicle makers, technology companies and banks.

Falls were also seen on Wall Street, with the Dow Jones Industrial Average down 0.5% about 15 minutes into trading and the Nasdaq tumbling by 0.6%.

On Friday basic resource stocks dropped 2.6 percent to a month low as Chinese base metal prices fell.

Investors await the headline U.S.consumer inflation data for July for more clues about future Fed decisions. -North Korea war of words and a clutch of disappointing earnings reports.

The resignation of President Richard Nixon - 43 years ago to the day - resulted in a first day 0.9 percent sell-off, but 20 days later, the S&P 500 was down 13.8 percent and up 6.7 percent after 250 days. Other safe havens for investors were the Swiss franc and gold.

The benchmark S&P 500 index tumbled more than 1 percent on Thursday, only the third time this year it has fallen that much, while the Nasdaq shed more than 2 percent.

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North Korea appears more emboldened than ever, and, due to years of failed American foreign policy, it is closer than ever to possessing the weapons to finally put some bite behind its bark.

United States markets fell on Wednesday morning, spooked by rising tension between the USA and North Korea.

"Tomorrow will be telling, as we see if selling continues, and if there are any bargain hunters", Silverblatt said. While the French CAC 40 Index fell by 0.6%, the German DAX Index slumped by 1.1% and the UK's FTSE 100 Index plunged by 1.4%.

Neil Mellor, a currency strategist with Bank of New York Mellon in London, said the pound was "drifting towards the lows from last month against the dollar".

Sterling was last trading at $1.3013, up 0.30 percent on the day. Prices for bonds and gold headed higher.

Crude oil prices fell on Thursday, on concerns of lingering global oversupply as Russian Federation considered a future output resumption and OPEC boosted its July production numbers.

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