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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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China says welcomes North Korea’s decision to halt nuclear, missile tests.

China Saturday said it welcomed North Korea’s decision to halt nuclear tests and intercontinental missile launches, with Pyongyang’s chief ally saying the move would help promote denuclearisation in the flashpoint region.
“China believes the decision to stop nuclear tests and focus on developing the economy and improving people’s living standards will help further ease the situation on the Korean peninsula and help to promote the process of denuclearisation and attempts to find a political settlement,” Chinese foreign ministry spokesman Lu Kang said in a statement.
“China will support North Korea … (to engage in) dialogue and consultation with the relevant parties.”
The surprise announcement comes less than a week before the North Korean leader Kim Jong Un meets South Korean President Moon Jae-in for a summit in the Demilitarised Zone that divides the peninsula, ahead of an eagerly-awaited encounter with US President Donald Trump.
However, Kim gave no indication Pyongyang might be willing to give up its nuclear weapons, or the missiles with which it can reach the mainland United States.
For years, the impoverished North has pursued a “byungjin” policy of “simultaneous development” of both the military and the economy.
But the leader said that now North Korea was a powerful state, “the whole party and country” should concentrate on “socialist economic construction”

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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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