The risks of a trade war continuation to corporate earnings
Citi Private Bank Global Head of Investments David Bailin on the market impact from U.S. trade tensions with China.
Equity futures turned lower Thursday after Canadian authorities arrested the chief financial officer of Chinese telecom giant Huawei at the request of U.S. authorities.
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The blue-chip Dow Jones Industrial Average was poised to open down by more than 400 points.
Global stocks also fell after the arrest Wednesday in Vancouver of Meng Wanzhou, also known as Meng Sabrina, who faces extradition to the United States.
The specific charge or charges against the 46-year-old daughter of Huawei's founder were not disclosed, but U.S. officials have been investigating the company for possibly violating American trade sanctions against Iran.
The arrest raises the stakes for — and possibly threatens — the recently restarted U.S.-China trade talks.
Dow futures were down 416 points or 1.66 percent, while the Nasdaq futures tumbled 2.32 percent and the S&P 500 fell 1.81 percent.
Asian stocks closed down. Japan's Nikkei 225 index was off 1.91 percent, while the Hang Seng ended off 1.19 percent. China's Shanghai Composite settled down 1.68 percent.
European bourses were also lower. Britain's FTSE 100 was 2.58 percent lower, France's CAC 40 was off 2.40 percent and Germany's Dax was falling 2.55 percent.
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