August 10, 2017
Heightened tension between the U.S. and North Korea pressured stocks for a 3rd session as the Dow fell a sharp 0.9 percent to 21,844. Economic news is being pushed to the background but today's producer price report is important, showing wide declines including for wholesale services in results that are not promising for tomorrow's consumer price report.
Demand for the safety of bonds is up with the 10-year yield down 5 basis points to 2.20 percent. Demand for gold is also up, gaining more than $10 and over $1,290. The dollar index was little changed, slipping 0.1 percent to 93.39.