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World markets dive as Trump sparks trade, North Korea worries

Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain
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Philippines storm death toll climbs to 133.

The death toll from a tropical storm in the southern Philippines climbed swiftly to 133 on Saturday, as rescuers pulled dozens of bodies from a swollen river, police said.
Tropical Storm Tembin has lashed the nation’s second-largest island of Mindanao since Friday, triggering flash floods and mudslides.
The Philippines is pummelled by 20 major storms each year on average, many of them deadly. But Mindanao, home to 20 million people, is rarely hit by these cyclones.
Rescuers retrieved 36 bodies from the Salog River in Mindanao on Saturday, as officials reported more fatalities in the impoverished Zamboanga peninsula.
 
The bodies were swept downriver from a flooded town upstream called Salvador, Rando Salvacion, the Sapad town police chief, told AFP. Authorities in Salvador said they had retrieved 17 other bodies upstream.
Salvador and Sapad are in Lanao del Norte, which is one of the provinces hardest hit by Tembin.
The death toll for the Zamboanga peninsula also rose to 28, and police said 81 people were missing after mud and rocks swept down coastal communities in Sibuco and other fishing towns.
Tembin struck less than a week after Tropical Storm Kai-Tak left 54 dead and 24 missing in the central Philippines.
The deadliest typhoon to hit the country was Haiyan, which killed thousands and destroyed entire towns in heavily populated areas of the central Philippines in November 2013.
Tembin is expected to hit the tip of the western island of Palawan late Saturday, the state weather service said.

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World markets dive as Trump sparks trade, North Korea worries

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