Dow sinks 600pts after Huawei exec arrest

Markets 12/6/2018, 4:58 PM
Dow sinks 600pts after Huawei exec arrest

The ongoing selloff on Wall Street accelerated even further on Thursday amid trade concerns between the United States and China, which took a turn for the worse following the arrest of Huawei's top executive in Canada. The Dow Jones Industrial Average Index dropped more than 600 points, bringing the total losses in 2 days to over 1,400 points.

Huawei's Chief Financial Officer Wanzhou Meng was arrested in Vancouver allegedly under the suspicion of violating US sanctions against Iran. Beijing subsequently demanded her release and asked for charges against her to be made public by the US.

The Dow Jones was trading 2.35%, or 592 points lower at 5:04 pm CET, while the Nasdaq 100 lost 1.78%. Meanwhile, the S&P 500 tumbled 2.23% at the same time. The euro gained 0.31% against the dollar to sell for 1.1381 at 5:06 pm CET.

Breaking the News / FH

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