European and U.S. stock markets slid Tuesday on fears of a new escalation in the burgeoning trade war between China and the United States, dealers said.

European equities rose Monday as the far-right failed to make as large gains as expected in Swedish elections, with investors appearing more relieved about the dampening prospects of a "Swexit" than concerned about domestic political deadlock in the EU nation.

Top trade officials from the U.S. and EU met on Monday to begin efforts to turn a much heralded deal to avert a trade war into a concrete long-term agreement.

Turkey's economic growth slowed to 0.9 percent in the second quarter, official statistics showed on Monday, with further declines expected as the impact of the slide in the value of the lira begins to show up in the data.

Argentine President Mauricio Macri's government will continue discussions with the International Monetary Fund this week as efforts to stave off an economic crisis multiply.

Greek Prime Minister Alexis Tsipras on Saturday vowed to lead his country to a post-bailout "rebirth" after eight years of cuts, offering millions of euros in handouts and promising to cut taxes and raise the minimum wage to bolster economic recovery.

The world is less well equipped to manage a major financial crisis today than it was a decade ago, according to Dominique Strauss-Kahn, a former chief of the International Monetary Fund (IMF).

Greek Prime Minister Alexis Tsipras is to unveil his government's post-bailout economic strategy in a keynote speech on Saturday amid protests against a controversial planned name deal with neighbouring Macedonia.

The New York Times is reporting that Jack Ma, the co-founder and executive chairman of Chinese e-commerce behemoth Alibaba Group, is retiring.

The Times said that in an interview, Ma said he planned to step down as executive chairman on Monday to pursue philanthropy in education. He will remain on Alibaba's board of directors.

World equities stumbled Friday as investors feared that the United States will ramp up its trade war with China by imposing fresh tariffs, dealers said.