S&P closes barely lower despite N. Korea tensions

An aerial view of US Naval Base Guam

An aerial view of US Naval Base Guam

Aug 9 (Reuters) - U.S. stocks were on track for their biggest one-day dip in a month on Wednesday after U.S. President Donald Trump's "fire and fury" warning to North Korea escalated global uncertainty.

The Dow Jones industrial average lost 71 points, or 0.3 percent, to 22,013.

The Nasdaq gave up 13.31 (-0.21 percent) to close at 6,370.46, while the S&P 500 finished at 2,474.92, down 5.99 (-0.24 percent) from its open.

Geopolitical concerns may continue to weigh on Wall Street amid a continued escalation in tensions between the United States and North Korea.

Pharmaceutical giant Valeant grew 2 percent after news hit the market that the company recorded lower sales in the second quarter, but saw the operating loss significantly lower.

All three major equity benchmarks stumbled firmly lower on Thursday, with the trifecta of indexes on track to fall in three consecutive sessions in unison for the first time since mid April amid a persistent war of words between the US and North Korea. Investors will study the numbers to get a feel for the USA inflation trend and any impact they data could have on the Federal Reserve's monetary policy.The New Zealand dollar was 0.2 percent higher at $0.7354. Hong Kong's Hang Seng added 0.6%.

"The fear trade, which is the gold trade, has helped buoy the Toronto Stock Exchange", said Allan Small, a senior investment advisor at Holliswealth. The commodity touched over $1,284.40 an ounce on Wednesday, which marked the highest intraday price in nearly two months.

The overall financials group, which accounts for roughly a third of the index slipped 0.9 percent. Job openings jumped 8 percent to 6.2 million, the Labor Department said Tuesday.

Guam´s local population numbers 162,000 and its economy depends primarily on tourism and the US military
Guam´s local population numbers 162,000 and its economy depends primarily on tourism and the US military

Investors piled into safe-haven assets such as USA government bonds, gold and the Japanese yen and sold off shares. Silver gained 47 cents, or 2.9 percent, to $16.86 an ounce.

The U.S. dollar fell to 110.48 yen from 110.72 yen late Monday. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 2.9 basis points to 2.212%.

Oil prices finished lower, however, with Brent crude last down 1.82% at $51.76 per barrel, and West Texas Intermediate losing 2.31% to $48.44.

Meanwhile, U.S. wholesale prices (http://www.marketwatch.com/story/us-wholesale-inflation-fall-01-in-july-first-decline-in-almost-a-year-2017-08-10) declined in July for the first time in nearly a year, providing additional evidence of tepid inflation that is bedeviling the Federal Reserve.

Overseas markets were also lower Wednesday.

Currency markets focused on the USA producer price index data due later in the session.

On Tuesday, stronger-than-expected U.S. jobs data from the Labor Department weighed on gold, dragging prices to the lowest since July 26 at $1,251.01 an ounce.

New Apple iPhone 8 Video Reveals Expected Colour Options