(Reuters) – U.S. stock index futures fell more than 1.5 percent on Thursday, as the arrest of a top executive of Chinese tech giant Huawei for extradition to the United States sparked fears of a flare-up in Sino-U.S. tensions, while sliding oil prices added to the pressure.
The arrest of Huawei Technologies Co Ltd’s Chief Financial Officer Meng Wanzhouof in Canada triggered fresh doubts over the prospect of Washington and Beijing striking a deal in their 90-day truce period.
Investor - Worries - Trade - War - Growth
Investor worries that a protracted trade war would dent global growth were exacerbated on Tuesday by a drop in longer-dated U.S Treasury yields and culminated in Wall Street’s three major indexes closing down more than 3 percent.
Adding to those concerns on Thursday was a drop in oil prices after the Organization of the Petroleum Exporting Countries signaled it may agree to a smaller-than-expected cut in crude output.
Indices - Tumble - Sell-off - Host - News
“The indices are headed for another tumble as the previous steep sell-off extends itself on a host of negative news,” Peter Cardillo, chief market economist at Spartan Capital Securities, said in a client note.
“The arrest of Huawei CFO...
Wake Up To Breaking News!