BEFORE THE BELL: Trade war risk worries rising over Huawei CFO arrest; Crude sliding again as Russia refuses to play ball with OPEC
The arrest of Huawei’s CFO is causing turmoil in the markets this morning. Investors, already nervous about trade war risk between China and the US are now likely to flock to safe haven options after the Chinese tech company official was arrested in Canada. The US is demanding she be extradited for Iran trade sanction crimes and China is demanding her release.
Meanwhile, the price for crude is sliding again as reports suggest Russia is now pushing back against an OPEC plan to cut production across the globe. The price for US oil is down to 51.45 a barrel.
Analysts say Hydro One shares may weight the TSX this morning after the company’s $6.7 billion takeover of Avista was denied by US officials. The concern was Doug Ford may try to meddle in the US business affairs.
The Loonie has fallen further to 74.49 cents US.