South Korea's Stock Market Is In The Red

Japan's Nikkei is down 1.8 percent.

Korea's Kospi is down 0.9 percent.

Australia's S&P/ASX is down by 0.6 percent.

Considering North Korea's threat to use nuclear weapons, you would think that markets would be exhibiting much more volatility.

But the relatively sanguine mood just goes to show how serious the markets are taking North Korea and its leader Kim Jong-un.

SBS/CNBC reporter Chery Kang, who is based in Seoul, attributed today's early sell-off to a combination of disappointing U.S. economic data, uncertainty regarding the Bank of Japan's interest rate meeting, and the threats out of North Korea.

Earlier, Stifel Nicolaus' Dave Lutz argued that the sell-off in the U.S. markets wasn't just about the North Korea. He said that if it was, we would see South Korea's stock markets tank and credit default swaps surge, which didn't happen.