Global economy avoids worst-case scenario with U.S.-China deal – but truce is fragile, analysts warn

Open this photo in gallery: Containers are stacked at a port in Nanjing, in eastern China’s Jiangsu province on May 12.STR/AFP/Getty Images An agreement between the United States and China to de-escalate their trade war sent stock markets sharply higher on Monday, reflecting expectations that the world's two largest economies are moving past the most acute phase of their conflict, though analysts warn the truce could be fragile. Washington and Beijing agreed to a 90-day pause on the most severe tariffs each country had imposed on the other in recent months, and said they would continue negotiating a broader trade…