December 6, 2018
U.S. stock futures indicated a sharply lower open on Thursday amid lingering anxiety about a possible economic slowdown and continued murkiness around trade relations with China.
Huawei CFO Meng Wanzhou was arrested by Canadian authorities on Wednesday in Vancouver, where she faces extradition to the U.S. The arrest decreases the likelihood that a permanent U.S.-China trade deal will be reached. Huawei is one of the largest mobile phone makers in the world.
As of 8:30 a.m. ET Thursday, futures indicated that the Dow Jones Industrial Average would open 359.07 points lower. S&P 500 and Nasdaq futures also pointed to a lower open across Wall Street.
When futures opened overnight, there was an initial plunge lower on heavy volume that spooked traders but the futures rebounded off those lows. There were some reports from traders and media that the CME Group had to halt trading during the volatile overnight session.
This article was posted: Thursday, December 6, 2018 at 8:43 am