Stock markets extend losses at open

Trump's shifting views on stock market highs

The headline US CPI release was below consensus forecasts with a 0.1% increase for July compared with an expected 0.2% with the year-on-year rate at 1.7%.

US producer prices unexpectedly fell in July, pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase. With the sell-off on the day, the Nasdaq and the S&P 500 fell to their lowest closing levels in a month.

The pan-European STOXX 600 fell 0.7 percent, taking its weekly losses to 2.4 percent, its worst since early November previous year.

He added that in China, the US and South Korea, stocks that are showing the biggest declines since the rise of tensions between the USA and North Korea are the companies that have risen most since June.

The spot gold price was up 0.7 percent at $1,286.07 per ounce by 1400 GMT, after hitting an earlier high of $1,286.40, its highest level since June 8.

United States stocks also fell, lingering in negative territory the entire session, but notching smaller declines than in overseas markets.

The Swiss franc has gained about 1.3 percent against the dollar so far this week, while the yen has advanced around 1.5 percent in the same period. Fourteen of the Dow's 30 stocks ended higher, led by 1.5% rallies for Microsoft and Cisco Systems.

The yen tends to benefit during times of geopolitical or financial stress as Japan is the world's biggest creditor nation and there is an assumption that Japanese investors there will repatriate funds should a crisis materialise.

Israel targets Al Jazeera offices; to take the network off-air
The broadcaster " will follow up the subject through appropriate legal and judicial procedures ", he added. Others, including the United Arab Emirates and Bahrain, have blocked its channel and websites.

Many world stock markets have hit record or multi-year highs in recent weeks, leaving them vulnerable to a selloff, and the tensions over North Korea proved to be the trigger. Travelers paced the 15 losers, dropping 1.2%, while IBM stock finished flat.

And several high-profile investors like Ray Dalio and Jeff Gundlach offered buzzkills by suggesting that the second-longest bull market in history at least needs to take a breather.

MSCI's main index of Asia-Pacific shares, excluding Japan, was last down 0.6 percent. Kashkari is the most dovish Fed member and he is likely to remain that way especially if inflation misses the mark.

South Korea's Kospi sank 1.8 percent to 2,316.88 and Hong Kong's Hang Seng shed 1.5 percent to 27,041.83.

Gold extended gains after data showed US producer prices unexpectedly fell in July, recording their biggest drop in almost a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase.

Nonetheless, the Dow has surged about 3,800 points since Trump's victory in November. The market slide accelerated slightly in the last half-hour of trading as Trump denounced North Korea's nuclear program.

Gold added $10.80, or 0.8 percent, to settle at $1,290.10 an ounce.

The dollar slipped to as low as 109.11 yen in early Asian trade on Friday, its lowest level since June 14, when the greenback had fallen to as low as 108.81 yen.

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