Dow futures off 350 points as arrest of Huawei exec reignites trade worries

U.S. stock futures tumbled Thursday, with selling so intense at one point that circuit breakers were triggered, after the arrest of a Huawei executive reignited trade worries that helped drag equities to their worst session since early October on Tuesday.

U.S. stock markets were closed Wednesday to mark a national day of mourning for former President George H.W. Bush, who died Friday at 94.

How are the benchmarks trading?

Futures for the Dow Jones Industrial Average YMZ8, -1.82%  were down 365 points, or 1.5%, at 24,680, though they were off overnight lows, when Dow futures fell as much 487 points.

S&P 500 index futures ESZ8, -1.73%  were off 36.2 points to 2,666, a loss of 1.3%, while Nasdaq-100 futures NQZ8, -1.70%  tumbled 118 points, or 1.7%, at 6,688.

On Tuesday, the Dow DJIA, -1.78% sank 799.36 points, or 3.1%, to 25,027.07, while the S&P 500 index SPX, -1.80% dropped 90.31 points, or 3.2%, to 2,700.06. The Nasdaq Composite Index COMP, -1.71%  tumbled 283.09 points, or 3.8%, to 7,158.43. All three benchmarks had their worst day since Oct. 10.

Read: The worst-performing stocks on ‘Tariff Man’ Tuesday

What’s driving the market?

While regular trading was closed Wednesday, there was a shortened session of electronic trading for stock-index futures that showed Dow futures bouncing 100 points. When futures reopened Thursday, the drop was so severe on S&P 500 futures that the Chicago Mercantile Exchange triggered circuit breakers to avoid worse losses. Those futures spiked down to 2,659, a drop of 1.9% before the CME stopped trading briefly to try to calm the market, said Chris Weston, head of research at Pepperstone.

FactSet S&P 500 futures tumble sharply at Thursday’s reopen

Investors were rattled by news that the Canadian authorities had arrested Meng Wanzhou, the chief financial officer of Huawei Technologies, at

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