London stock market suffers worst day in over two years , as markets are hit by the shock arrest of Huawei CFO Meng Wanzhou
- Latest: £56bn wiped off as Footsie gets a kicking
- Dow tumbles by almost 500 points
- European markets at two-year lows
- FTSE 100 lower than in 1999!
- Huawei arrest shatters market confidence
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.
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