«Breaking News» Markets plunge at opening on trade tensions and fears of an economic slowdown

Markets have plunged after the arrest of a top Chinese executive on U.S. federal charges renewed fears of a trade war, while sliding oil prices added to the pressure.

At the opening bell on Thursday, the Dow Jones Industrial Average fell 290 points, or 1.16 per cent, to 24,737.42.

The S&P 500 opened lower by 36.55 points, or 1.35 per cent, at 2,663.51. The Nasdaq Composite dropped 141.37 points, or 1.97 per cent, to 7,017.05 at the opening bell.

Markets worldwide were roiled following the revelation on Wednesday that Huawei CFO Meng Wanzhou had been arrested on suspicion of violating U.S. sanctions against Iran.

Traders work on the floor at the opening bell at the New York Stock Exchange on Thursday. Wall Street opened sharply lower, joining a global stocks sell-off

In a move that observers call shocking and unprecedented, Meng, the daughter of Huawei's founder, was arrested on Saturday in Vancouver, Canada and is set to be extradited to the U.S. to face the federal charges. 

Huawei is one of the world's largest makers of smartphones and telecommunications network equipment. 

China’s embassy in Canada harshly criticized Canada and the U.S. for the arrest. It also demanded Meng's immediate release and denied she had violated any U.S. or Canadian law.

'China has already made solemn representations to the United States and Canada, demanding they immediately correct their wrong behavior and restore Ms Meng Wanzhou’s freedom,' the embassy said in a brief statement. 

U.S. authorities have reportedly been probing Huawei since at least 2016 for allegedly shipping U.S.-origin products to Iran and other countries in violation of U.S. export and sanctions laws. 

The arrest of Chinese executive Meng Wanzhou (above in 2014) is seen as a shocking measure. She is the CFO of Huawei and daughter of the massive company's founder

Meng's arrest threatens to upend a newly minted trade truce between President Donald Trump and Chinese President Xi Jinping.

The two leaders reached the 90-day trade war 'ceasefire' on the sidelines of the G-20 in Argentina on the very same day as the executive was taken into custody - but before word of her arrest was made public. 

Shock waves from the arrest rippled around the globe, with markets in Asia, Europe and Latin America all taking a beating.

On Wall Street, Boeing and Caterpillar, which would stand to lose much in an extended trade battle with China, fell the most in the Dow. 

The price of oil also fell sharply early Thursday as OPEC leaders gathered to discuss possible cuts in production. 

Traders continued to shovel money into bonds, a signal that they see weakness in the economy ahead. 

Link hienalouca.com

https://hienalouca.com/2018/12/06/markets-plunge-at-opening-on-trade-tensions-and-fears-of-an-economic-slowdown/
Main photo article Markets have plunged after the arrest of a top Chinese executive on U.S. federal charges renewed fears of a trade war, while sliding oil prices added to the pressure.
At the opening bell on Thursday, the Dow Jones Industrial Average fell 290 points, or 1.16 per cent, to 24,737.42.
The S&P...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

Dianne Reeves US News HienaLouca





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