Dow, S&P 500 futures tumble after arrest of Huawei CFO

U.S. stock market futures tumbled in early trading Wednesday night, signalling potential Thursday losses on Wall Street, after Canada arrested a top executive of Chinese telecom giant Huawei Technologies at the request of the U.S., a move that is seen as exacerbating tensions between the U.S. and China. Dow Jones Industrial Average futures YMZ8, -1.25% were down nearly 300 points Wednesday night, off more than 1%. S&P 500 futures ESZ8, -1.16% and Nasdaq Composite futures NQZ8, -1.48% were also down more than 1%. Asian stock markets fell as well, with Hong Kong’s Hang Seng Index HSI, -2.55% down more than 2%. The U.S. is seeking extradition of CFO Meng Wanzhou over alleged violations of sanctions against Iran. The move could reignite simmering trade tensions between the U.S. and China, and one expert warned China could retaliate against U.S. executives.

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