Stock markets around the world, especially those in Asia Pacific declined sharply, while demand for safe havens grew amid heightened tensions in the Korean peninsula. After North Korea warned of physical actions in response to newly-imposed sanctions by United Nation’s Security Council (UNSC), President Trump offered a stern warning to North Korea by saying, “North Korea best not make any more threats to the United States. They will be met with fire and fury like the world has never seen. He has been very threatening beyond a normal statement. And, as I said, they will be met with fire, fury, and frankly power, the likes of which this world has never seen before."

• Japanese benchmark stock index Nikkei 225 is down 1.41 percent to 19715 and TOPIX 500 is down 1.2 percent to 1244
• China remains relatively flat, with benchmark Shanghai Composite down 0.2 percent to 3275.
• Hang Seng index is down 0.7 percent to 27663
• Korean benchmark KOSPI 200 is down almost a percent to 310.4
• Taiwan’s Taiex is also down close to 1 percent to 10468.

While the price of stocks declined, demand for safe haven assets pushed the gold and yen higher.

In Asian trading, the gold price is up 0.7 percent to $1270 per troy ounce. The Japanese safe haven yen edged past 110 per dollar and currently trading at 109.9 and at one point, it was up to 109.7 per dollar.