…from the NY Times…
A sell-off in global markets accelerated on Friday as tensions between the United States and North Korea escalated, driving investors toward havens.
Asian stock markets closed lower and European indexes opened sharply down, on fears that the verbal back-and-forth between Washington and Pyongyang had raised the risk of actual conflict.
Hong Kong’s benchmark Hang Seng Index fell 2 percent, and South Korea’s main share index also dropped. Stock markets in Britain, France and Germany were all lower by noon in London.
Investors moved their money into what they apparently deemed safer assets. The Japanese yen and Swiss franc were both stronger, and the price of gold rose for the third straight day. The yield on British and European bonds, which move inversely to the price, fell.
The jitters in the stock markets followed tougher talk from Washington and Pyongyang. President Trump said on Thursday that his warning about the United States potentially hitting North Korea with “fire and fury” may not have been tough enough, after North Korea responded by threatening to launch a missile strike at Guam, an American territory in the Pacific…..