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...
Urbi et Orbi: Pope calls for peace for Jerusalem.
Pope Francis has used his traditional Christmas Day message to call for "peace for Jerusalem" and dialogue between Israelis and Palestinians.
Acknowledging "growing tensions" between them, he urged a "negotiated solution... that would allow the peaceful co-existence of two states".
US President Donald Trump recently announced that America recognised Jerusalem as the capital of Israel.
The controversial move drew international condemnation.
Media captionWhy the city of Jerusalem matters
Last week, UN members decisively backed a non-binding resolution that said any decisions regarding the status of Jerusalem were "null and void" and must be cancelled.
Palestinians want East Jerusalem as their future capital, and all countries currently keep their embassies in Tel Aviv.
The Roman Catholic leader gave his Urbi et Orbi speech, which in Latin means "To the city and world", in Saint Peter's Square.
"On this festive day let us ask the lord for peace for Jerusalem and for all the Holy Land," he told the crowd.
"Let us pray that the will to resume dialogue may prevail between the parties and that a negotiated solution can finally be reached, one that would allow the peaceful co-existence of two states within mutually agreed and internationally recognised borders."
It joined the US and Israel, and Honduras, the Marshall Islands, Micronesia, Nauru, Palau and Togo, in voting against the UN resolution.
However, 128 countries backed the resolution while others abstained.
Why does the city matter so much?
Jerusalem is home to sites sacred to Judaism and Islam, and because of its role in the life of Jesus, the city is also one of the holiest places for Christians.
The city's status goes to the heart of the Israeli-Palestinian conflict.
Israel regards Jerusalem as its "eternal and undivided" capital, while the Palestinians claim East Jerusalem - occupied by Israel in the 1967 Middle East war - as the capital of a future Palestinian state.
Media captionIsraeli PM Netanyahu: 'I'll be your Christmas tour guide'
Israeli sovereignty over Jerusalem has never been recognised internationally and, according to the 1993 Israel-Palestinian peace accords, the final status of Jerusalem is meant to be discussed in the latter stages of peace talks.
Since 1967, Israel has built a dozen settlements, home to about 200,000 Jews, in East Jerusalem. These are considered illegal under international law, though Israel disputes this.
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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"On this festive day let us ask the lord for peace for Jerusalem and for all the Holy Land," he told the crowd.
"Let us pray that the will to resume dialogue may prevail between the parties and that a negotiated solution can finally be reached, one that would allow the peaceful co-existence of two states within mutually agreed and internationally recognised borders."
The pontiff's speech touched on other pressing international issues, from the migration crisis to the conflicts in Syria and Iraq, from Venezuela to North Korea.
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