Stocks are falling in midday trading on Wall Street, led by declines in technology companies and banks.
After North Korea hinted at developing a plan to attack Guam, a U.S. Pacific territory, President Trump fired back by stating that his warning to bring "fire and fury" on North Korea may not have been tough enough.
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Safe-haven assets gained following the rising geopolitical tensions. The Nasdaq lost 135 points, or 2.1 percent, to 6,216.
By mid-morning in NY investors began to look for stocks to buy rather than offload and the Dow Jones industrial average was 38.65 points higher at 21,882.92 while the S&P 500 was... Shanghai Composite Index tumbled 1.6 percent to 3,208.54.
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Gold prices - which were given a boost by safe haven demand - trended lower, after the yellow metal traded around two-month highs overnight. EIA reported that USA crude inventories fell last week as refineries boosted output to the highest percentage of capacity in 12 years.
Trump tweeted on Wednesday about the strength of the American nuclear arsenal, but expressed hope it would not need to be used, while U.S. Secretary of State Rex Tillerson said he did not believe there was an imminent threat.
Many world stock markets have hit record or multi-year highs in recent weeks, leaving them vulnerable to a sell-off, and the tensions over North Korea have proved the trigger.
LACKLUSTER QUARTER: Office Depot sank 24.5 percent after the office supply company's second-quarter results fell short of Wall Street's projections. Copper fell 2 cents to $2.93 a pound.
Consumer-focused stocks, media companies and banks accounted for much of the market decline. Brent crude, the global standard, lost 23 cents to $52.14 a barrel in London. 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. Heating oil fell one cent to 1.63 a gallon. Discovery Communications fell 94 cents, or 3.9 percent, to $23.36.
Guam adviser urges calm after North Korea threat
Patrons packed local restaurants, barely glancing at televisions bearing news of Pyongyang's latest threat against their homeland. Trump tweeted Friday: "Military solutions are now fully in place, locked and loaded, should North Korea act unwisely".
"But looking ahead unless we start to see a conflict break out or a major stock market correction, (gold) is capped at 1,295 (although) the upside at moment is the favored direction".
USA stocks opened higher on Friday after suffering their worst single-day losses since mid-May on Thursday. The euro strengthened to $1.1756 from $1.1752.
Markets overseas were mixed Tuesday.
The dollar index .dxy , which measures the US currency against a basket of other major currencies, fell 0.14 percent.
Disappointing earnings also helped pull the market lower Wednesday. Japan's Nikkei 225 slipped 0.3%, while Australia's S&P/ASX 200 lost 0.5%.
South Korea's KOSPI fell 1.3 percent, taking its losses this week to almost 2.7 percent.
HBO hackers release outline for next 'Game of Thrones,' make ransom demands
They demanded that the network pay "our six-month salary in bitcoin", adding that they will only deal with Plepler directly. If their demands are not met, they claim to leak the entire series and more sensitive files from HBO .
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