Global Markets: Pessimism surrounds U.S./China trade talks

By MarketsFarm

WINNIPEG, July 29 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Pessimism surrounded the resumption of face-to-face trade talks between the United States and China on Monday. The negative feeling arose after U.S. President Donald Trump tweeted China may not want a trade deal until after the 2020 U.S. Presidential election. With the pessimism, stock markets in Asia slipped as did oil prices amid increased fears of a global economic slowdown.

– U.S. Senator and Democratic presidential contender Bernie Sanders ventured into Canada on Sunday, having joined diabetes patients on a bus to purchase cheaper insulin. Sanders has been campaigning for federally negotiated prescription drug prices, similar to those in Canada. Sanders has been among the top contenders in a field of 20 candidates for the Democratic presidential nomination.

– The Royal Navy has positioned a second frigate in the Strait of Hormuz to escort United Kingdom-flagged oil tankers. Over the weekend, HMS Duncan joined HMS Montrose in an effort to prevent the Iranian Revolutionary Guard from attempting to capture more oil tankers transiting the narrow the strait. On July 19 the Guard seized the UK-flagged, Swedish-owned Stena Impero. Earlier this month, the British seized an Iranian tanker in the western Mediterranean Sea on the pretext it was smuggling oil to Syria.

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