London — World stocks fell for a third day on Thursday and investors moved again into the Swiss franc, yen and gold, prompted by the war of words between the US and North Korea. Markets saw a tentative recovery in risk appetite in overnight trade in the US and early Asian trading, but anxiety mounted again as Asian stocks fell and London, Frankfurt and Paris dropped 0.5%-1.2% in Europe. Currency traders consolidated positions in the Japanese yen and Swiss franc, and pushed up the dollar index by unwinding some of the recent bets on the euro. Although Japan could be in the front line of any clash with North Korea, the yen is benefiting because Japan is the world’s biggest creditor nation and Japanese investors tend to repatriate funds in times of stress, attracting other flows. The euro was down 0.3% at just over $1.17 and nearing a two-week low, while the New Zealand dollar tumbled a full 1% as its central bank head bluntly said he wanted it lower. "We saw a tentative recovery in ri...
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