Major European and Asian stock markets mostly fell Tuesday as they waited for further developments after Wall Street struck record highs on optimism over US-China trade tensions.

“Equity markets through Asia and Europe have taken a turn,” noted Joshua Mahony, chief market analyst at Scope Markets, with major indices across both continents having also hit record peaks in recent sessions.

“On a day that provides little by way of economic data, traders continue to retain a focus on US-China relations,” he added.

Donald Trump is due to meet Chinese counterpart Xi Jinping Thursday in South Korea — and rosy comments by the US president have fuelled optimism that the world’s two largest economies China and the United States can strike a deal to ease their trade war.

Those hopes spurred stocks

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