USA stocks snap 3-day losing streak in roller coaster week

President Donald Trump speaks in the Roosevelt Room of the White House in Washington Wednesday Aug. 2 2017

President Donald Trump speaks in the Roosevelt Room of the White House in Washington Wednesday Aug. 2 2017

The yen is perceived as a safe haven because Japan is the world's biggest creditor country and investors there have tended to repatriate funds in times of crisis. Japanese markets were closed for a holiday.

South Korea's KOSPI fell 1.8 per cent to an 11-1/2-week low, but its losses for the week are a relatively modest 3.2 per cent.

A spokesman for the Korean People's Army said in a statement that it was "carefully examining" plans for a missile attack on the U.S. Pacific territory, which has a large American military base.

In currencies, the yen rose 0.8 percent versus the greenback at 109.2 per dollar JPY= , the strongest level for the Japanese currency since mid June.

Australian shares were down 1.3 per cent, set for a weekly loss of 0.6 percent and Chinese and Hong Kong bluechips lost 1.6 per cent and 1.9 per cent, respectively.

Losses in health care and consumer-focused companies pulled US stocks broadly lower Tuesday, snapping a 10-day winning streak for the Dow Jones industrial average.

"It's a clear case of "risk-off" sentiment lifting the yen, as investors focus on the latest developments with North Korea", said Kumiko Ishikawa, FX market analyst at Sony Financial Holdings in Tokyo.

Spot gold prices were unchanged at $1,286.27 a ounce, after touching a two-month high earlier.

"We're not very oversold yet so the market still has more downside left to it", said Robert Pavlik, chief market strategist at Boston Private Wealth in NY.

Defensive assets drew support from fresh tensions surrounding North Korea after reports that the Pyongyang regime had developed a miniaturised nuclear warhead which could be deployed on a long-range missile. The Dow slid 33.08 points, or 0.2 percent, to 22,085.34.

Meanwhile, initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 244,000 for the week ended August 5, the Labor Department said on Thursday.

The benchmark U.S. yield yesterday was just above 2.2 per cent, at its lowest level since late June, as investors bought up Treasuries, a classic safe harbor.

The dollar widened losses against the yen to hit a two-month low.

LONDON, Aug 10 (Reuters) - The euro slipped towards a two-week low against the dollar on Tuesday as swirling tensions between the United States and North Korea sapped broad demand and prompted investors to take profits after recent strong gains.

S&P 500 e-minis were up 1.5 points, or 0.06 percent, with 300,073 contracts traded.

The dollar weakened after news that 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.

The dollar struggled for direction as data showed the slowdown in inflation continued unabated while initial jobless claims data undershot expectations.

Barrick Gold Corp rose 2.1 percent to C$21.7, while Goldcorp Inc rose 0.9 percent to C$16.29.

US crude CLc1 was unchanged at $48.59 per barrel and Brent LCOc1 was last at $51.84, down 1.63 percent on the day. Netflix lost 1.5 per cent.

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