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European stocks slide as U.S.-North Korea strife sends haven assets higher

European stocks were driven sharply lower Wednesday as rising tensions between the U.S. and North Korea escalated.

In Frankfurt, the DAX 30 DAX, -1.18  dropped 1.1% to 12,160 and in Paris, the CAC 40 index PX1, -1.58  was shoved down 1.3% to 5,152.

Those moves contributed to a 0.7% loss for the pan-European Stoxx Europe 600 SXXP, -0.81 to 380.07. The benchmark was on course for its biggest percentage fall in nearly two weeks.

The selloff came after North Korean leader Kim Jong Un made an explicit threat of to strike a U.S. military base in Guam.

His order, reported in state media, came hours after U.S. President Donald Trump warned Pyongyang not to “make any more threats” to the U.S, saying it would face a “fire and fury” response “like the world has never seen.” Trump’s comments came after a Washington Post report that North Korea has built a miniaturized nuclear warhead.

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