Speaking at the UN. UK May and Abe also speaking on N. Korea risk

US Secretary of State Rex Tillerson is speaking at the UN and warns of global threats from N. Korea.

  • Threats of nuclear attack on Japan and South Korea are real
  • failing to act now on most pressing security issue in the world may bring catastrophic consequences
  • Act before North Korea does. Calls on UN to implement sanctions on a third-party individuals or parties that have ties with North Korea
  • Business as usual is not an option on North Korea
  • All options of responding to future provocation by North Korea must remain on the table
  • Diplomatic, financial measures will be backed up by willingness to counteract North Korea aggression with military action if necessary
  • For years North Korea has dictated terms of his dangerous course of action and it's time for us to retake control of the situation

Meanwhile UK PM May is speaking on the same topic. She adds:

  • Agrees with the Japan's Abe tthat North Korea continues to take pprovocative action
  • have highlighted our opposition to any activity on South and East China Sea that is likely to increase tension
  • North Korea missile tests represent a threat to global peace and stability
  • stand steadfast in our condemnation of such destabilizing activity

Abe adds:

  • World is faced with serious threats to international order, including from N. Korea an in the East and South Seas
  • UK and Japan consider free and open seas are the cornerstone of peace and prosperity

Gold is trading up $2.56 currently at $1267.87. The high reached 1268.68. The low 1263.17. If there is military action, the price of gold should benefit from safe haven flows.

US stocks are trading down. The S&P index is down about 3 points or -0.12%. The Nasdaq is up 1 point or +0.02%. The Dow is down -30.51 points or -0.14%.