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Chinese Shares Not Amused With S&P Futures Crash, Huawei Arrest
It all started with an overnight plunge in S&P futures.
The quick move lower (shown below) seemingly caught everyone by surprise, leaving traders scratching their heads and sending pundits on a fruitless quest for answers that weren't forthcoming.
(Bloomberg)
Long story short, nobody came along to bid them back up after the knee-jerk lower and the bad omen and sour sentiment bled into the Asia session.
Whether or not news that Canada has arrested Huawei Technologies CFO Wanzhou Meng (
Whether Trump and Xi like it or not their markets are inextricably linked, like Siamese twins. Cut one and they both bleed to death.
China simply can’t keep up the growth pace without cheap, cheap oil. Every economic narrative follows from there, IMO.