Reuters

The Swiss franc rallied hard against the euro and the U.S. dollar on Wednesday, as increased tensions between the United States and North Korea led investors to look for assets deemed as less risky.

U.S. President Donald Trump’s warning to North Korea and Pyongyang’s threat of possible armed retaliation drove investors out of stocks and other risky assets on Wednesday and into textbook safe-havens like gold and Treasuries.

U.S. shale producers need a WTI oil price around $50 per barrel to break even, according to an analysis of financial statements for the second quarter.

U.S. Treasury yields fell on Wednesday, with those on the benchmark 10-year note hitting a six-week low, as heightened tensions between the United States and North Korea stoked demand for U.S. government debt and other safe-haven assets.

U.S. worker productivity rose more than expected in the second quarter amid an increase in hours, but the trend remained weak, suggesting that robust economic growth could remain elusive.

Gold prices rose on Wednesday after North Korea said it is considering an attack on the U.S. Pacific territory of Guam, with President Donald Trump warning Pyongyang that any threat to the United States would be met with “fire and fury.”

The Swiss franc on Wednesday held near the day’s highs after posting its biggest single-day rise against the euro since the central bank removed its cap on the currency in January 2015.

Asian shares and U.S. stock futures slipped on Wednesday and investors piled into havens such as U.S. Treasuries, gold and the yen as tensions on the Korean peninsula escalated.

The yen gained against the dollar and other peers on Wednesday on the latest bout of geopolitical tensions stemming from the Korean Peninsula.

Gold prices rose early Wednesday amid rising tensions between the United States and North Korea.