World stock markets tumble following arrest of Huawei executive in Canada

NEW YORK — Stock markets around the world tumbled on Thursday as the arrest of a top Chinese technology executive cast further shadows on U.S.-China trade relations, while oil prices sank on fears of smaller-than-expected output cuts.READ MORE: China demands Canada release Huawei executive arrested at Vancouver airport
Story continues belowThe arrest of smartphone maker Huawei Technologies Co.’s Chief Financial Officer Meng Wanzhou in Vancouver for extradition to the United States came as Washington and Beijing prepared for key talks aimed at resolving a bitter trade spat.The Dow Jones Industrial Average fell 679.46 points, or 2.71 per cent, to 24,347.61, the S&P 500 lost 67.8 points, or 2.51 per cent, to 2,632.26 and the Nasdaq Composite dropped 139.83 points, or 1.95 per cent, to 7,018.60.MSCI’s gauge of stocks across the globe shed 2.53 per cent, while the pan-European STOXX 600 index lost 3.31 per cent.WATCH: Cybersecurity officials won’t say if Huawei is a threat

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