North Korea spat rattles Wall Street

S&P 500 Index

US stocks closed lower on Tuesday after Trump's comments sparked a late afternoon selling.

Aug 9 (Reuters) - U.S. stocks were lower on Wednesday afternoon as investors rushed to safe-haven assets after President Donald Trump's "fire and fury" warning to North Korea escalated tensions with the nuclear-armed nation. The Dow slid 0.2 percent to 22,085.34.

But even faced with the possibility of military action by Kim Jong-un's police state, Wall Street still suggests a buy-and-hold strategy.

Other stock indexes also ended the day lower.

The Dow Jones Industrial Average .DJI was down 82.37 points, or 0.37 percent, to 22,002.97, the S&P 500 .SPX had lost 8.34 points, or 0.34 percent, to 2,466.58 and the Nasdaq Composite .IXIC had dropped 38.99 points, or 0.61 percent, to 6,331.47. The Nasdaq composite fell 13 points, or 0.2 percent, to 6,370.

Ten out of the 11 major S&P 500 sectors fell after the comments with the only gains seen in the utilities sector.

Oil prices gained 32 cents to $49.49 US per barrel.

Gold was the big victor Wednesday as stocks pared back to moderate losses and Walt Disney (DIS) dragged on the Dow, while Netflix (NFLX) and Priceline Group (PCLN) hindered the Nasdaq and retailers took some brutal hits after reporting second-quarter results.

CURRENCIES: The euro was down 0.1 percent at $1.175 while the dollar fell 0.6 percent to 109.68 yen. Netflix fell 3.2 percent.

ENERGY: Benchmark U.S. crude lost 23 cents to $48.94 per barrel in electronic trading on the New York Mercantile Exchange. It fell 19 cents, or 0.4 percent, to $49.39 per barrel Monday in NY. Brent crude, used to price worldwide oils, gave up 29 cents to $51.85 in London.

The strong earnings season helped propel US stocks to record highs.

Martin van Vliet, a senior rates strategist at ING, said the market move in German bonds was exacerbated by speculative bets on futures derivative contracts, rather than actual trading in the underlying assets. The yield on the 10-year Treasury note rose to 2.27 percent from 2.26 percent late Monday.

Travel companies Priceline.com and TripAdvisor also weighed on markets, with shares falling more than 7%. Britain's FTSE 100 added 0.1 percent.

Global markets were sharply lower on Wednesday.

Japan's Nikkei 225 was down 1.25% and South Korea's Kospi declined 0.68%.

Hong Kong's Hang Seng Index was off 0.09%.

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