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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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Feeling unwell, Tillerson cancels Nairobi programme.

US Secretary of State Rex Tillerson, who is on his first-ever Africa tour as Washington’s top diplomat, on Saturday canceled his programme in Kenya because he was feeling unwell, officials said.
“The secretary is not feeling well after a long couple days working on major issues back home such as North Korea and has canceled
his events for the day,” said a brief statement from Undersecretary of State Steve Goldstein.
The announcement comes little more than 24 hours after US President Donald Trump stunned the world by accepting an invitation to meet North Korea’s Kim Jong Un before the end of May.
The audacious diplomatic gambit, which was taken before consulting key confidantes including Tillerson — who was in the Ethiopian capital Addis Ababa at the time — left aides scrambling to catch up.
Just hours before the summit announcement, which emerged late on Thursday, Tillerson had said Washington was “a long way” from talking directly to North Korea as he kicked off his five-nation Africa tour.
The US diplomat, who arrived in Nairobi on Friday, had been due to visit the AIDS-relief programme PEPFAR on Saturday and also attend a ceremony marking 20 years since Al-Qaeda bombed the US embassies in Kenya and Tanzania, killing 224 people.
Plans to lay a wreath at the site could be rescheduled, Goldstein said.
Tillerson is due to travel to Chad on Monday then on to Nigeria a day later.

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World markets dive as Trump sparks trade, North Korea worries

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