Investors are taking risk off the table today, after another standoff between the US and North Korea resulted in President Trump threatening ‘fire and fury like the world has never seen’. The situation was escalated when North Korean leader, Kim Jong Un, said he was examining an operational plan for firing a ballistic missile towards Guam, where an American military base is situated. Haven assets such as gold and the Japanese yen rose, while the Vix volatility index moved off its lows, to the highest level it has been in a month. European equities fell following their Asian counterparts lower on the news, while sovereign bonds were in demand, sending yields on debt lower.