Wanzhou’s arrest has sparked concern of a major collision between the U.S. as well as China, at a time when both economic powers were set to begin three months of negotiations aimed at de-escalating their global trade war.
The U.S. as well as China had agreed to temporarily hold off on imposing additional charges against each additional’s goods over the weekend. President Donald Trump as well as President Xi Jinping’s trade truce prompted global stocks to surge higher at the start of the trading week, however fading optimism over the political deal has since pared equity market gains.
In Asia, MSCI’s broadest index of Asia-Pacific shares, excluding Japan, fell almost 2 percent on Thursday.
Stateside, stock markets are set to re-open after traders observed a national day of mourning for President George H. W. Bush on Wednesday.
Back in Europe, market participants are likely to closely monitor a much-anticipated meeting between OPEC as well as non-OPEC members in Vienna, Austria on Thursday as well as Friday. The 15-member group as well as its allied partners are widely supposed to impose steep output restrictions through January, in order to prop up tumbling oil prices.