Wall Street selloff intensifies, Dow drops 700pts

Markets 12/6/2018, 5:14 PM
Wall Street selloff intensifies, Dow drops 700pts

United States stock markets traded deeply in the red on Thursday as the Dow Jones Industrial Average Index losses broadened to 700 points in the light of tensions between the US and China, which only worsened following the arrest of Huawei's top executive Meng Wanzhou in Canada. Meng was arrested allegedly under the suspicion of violating Washington's sanctions against Iran, and she now faces extradition to the US. However, China quickly objected and demanded the businesswoman's release.

The Dow Jones was trading 2.77%, or 693 points lower at 5:24 pm CET, bringing the total losses in 2 days to over 1,500 points. The Nasdaq 100 lost 2.20%, while the S&P 500 tumbled 2.69% at the same time. The euro gained 0.27% against the dollar to sell for 1.1375 at 5:26 pm CET.

Breaking the News / FH



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