Global stocks set to wobble after heated G7 and ahead of Trump-Kim summit

Stocks markets were expected to be on the defensive on Monday as a weekend G7 summit fanned trade war fears after U.S. President Donald Trump backed out of a joint communique in a blow to the group's efforts to show a united front.

Trump's reversal, announced while he was en route to Singapore for a meeting with North Korean leader Kim Jong Un, sent his Group of seven partners scrambling.

The S&P 500 futures were down 0.3 percent, while the New Zealand stocks were off 0.3 percent. Australian markets were closed for a holiday.

The G7 jolt comes as an unprecedented meeting between