Global stocks sink but oil on the rise as US prepares Iran sanctions

Donald Trump to meet China president at G20, raising hopes of trade war breakthrough

Financial markets around the world are braced for a renewed period of turbulence this week as the US readies fresh sanctions against Iran and amid rising hopes for a breakthrough in the US-China trade war.

Donald Trump tweeted over the weekend that "major" additional sanctions were being prepared to use against Iran from Monday to block Tehran from developing nuclear weapons.

Iran cannot have Nuclear Weapons! Under the terrible Obama plan, they would have been on their way to Nuclear in a short number of years, and existing verification is not acceptable. We are putting major additional Sanctions on Iran on Monday. I look forward to the day that.....