Stock market turmoil wipes £56bn off FTSE 100, in worst day since Brexit vote – business live

London stock market suffers worst day in over two years , as markets are hit by the shock arrest of Huawei CFO Meng Wanzhou

If you’re just tuning in, there are three reasons why markets are falling sharply today.

1) News broke last night that the chief financial officer of one of China’s biggest companies, Meng Wanzhou of Huawei, has been arrested in Canada.

Related: China demands release of Huawei executive arrested in Canada

In points terms, the FTSE 100 has suffered its biggest drop in over three years.

FTSE 100 closed down 217 points today – largest one day point decline since August 24, 2015 pic.twitter.com/YrH2Wi2GC3

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