Asian stocks fell across the board on Friday as the escalation in tensions surrounding North Korea continued to push investors towards safe-haven assets such as the Japanese yen, the Swiss franc and gold.
The dollar set an eight-week low against the yen after U.S. President Donald Trump further ratcheted up the rhetoric, suggesting that his “fire and fury” comments may not have been tough enough.
The president said “things will happen to them they never thought possible” should Pyongyang attack the United States or its allies.
The yen strengthened above ¥109 for the first time since mid-June and oil extended overnight losses on persistent worries about oversupply while gold prices hit their highest level in over two months.
The Japanese market was closed in observance of the Mountain Day holiday. China’s Shanghai Composite index fell 53.21 points or 1.63 percent to 3,208.54 as…