Global trade weakness seems likely to extend into the second quarter,...and the outlook for world economy could worsen even further amid the U.S.-China trade tensions.<br />This according to the World Trade Organization on Monday.<br />The organization said its latest quarterly World Trade Outlook Indicator was 96-point-three,... a nine year-low. <br />A reading greater than 100 suggests above trend trade growth...and below 100 indicates below trend growth. <br />The WTO said the outlook could worsen if heightened trade tensions are not resolved...or if macroeconomic policy fails to adjust to the changing circumstances. <br />Taking a look at how the markets closed Monday... stocks fell all across the board as the intensifying fallout from a U.S. crackdown on Chinese telecom giant Huawei pressured the tech sector and raised concerns that the move would further inflame trade tensions between the world's two largest economies.<br />At closing bell, the Dow shed more than 84 points as Apple lagged... the S&P 500 pulled back seven-tenths of a percent and the Nasdaq dropped nearly 1-and-a-half percent.<br /> On the Korean bourse, the benchmark KOSPI crushed early gains to end flat for the day, as foreigners turned net sellers following another week of escalating U.S.-China trade tensions. <br />The tech-heavy KOSDAQ declined by 1-point-7 percent... and the Korean won climbed after a finance ministry official warned against "herd-like behavior" and the benchmark bond yield also rose.<br />Oil were mixed on Monday after hitting multi-week highs overnight, as OPEC indicated over the weekend that it was likely to maintain production cuts that have helped boost crude prices this year.<br />Providing further support: escalating Middle East tensions.<br />Brent crude oil fell 24 cents to 71-dollars and 97 cents a barrel and the U.S. West Texas Intermediate crude futures settled 43 cents higher at 63-19 a barrel. <br />
