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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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Venezuela sets caps on gasoline purchases.

Venezuela on Tuesday set limits on gasoline sales in the country’s west to undercut smuggling that it blames for short supplies in recent days.
Passenger cars were limited to a maximum of 30 liters and trucks to 35, said a statement from the oil ministry, without specifying a time period for the limit.
Venezuela, which has the world’s largest proven crude oil reserves, heavily subsidizes its gasoline prices, making smuggling to neighboring Colombia a big business.
The move was aimed at stopping people from the states of Barinas, Portuguesa, Apure, Lara and Cojedes, from filling up repeatedly to sell the fuel in Colombia, the statement said.
Venezuela’s government-led economy is in crisis and supplies of food and medicine have become alarmingly scarce.

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World markets dive as Trump sparks trade, North Korea worries

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