Markets dive on Huawei arrest and OPEC indecision

There were big falls in equities in the US and across Europe overnight, with rises in bonds, the Yen, Gold and the Swiss Franc reinforcing the risk-off mood. As Phil Dobbie discusses with NAB’s David de Garis, the turn in the market this week hasn’t been helped by the arrest of Huawei’s CFO in Canada, hinting at further unrest between the US and China. Oil price also took a hammering as OPEC delays any decision on cuts. They also look ahead to non-farm payrolls to the US tonight, something that, in more stable times, would have been the focus of market attention. And David de Garis asks whether the market reaction reflects the data, which shows the US economy is holding up well.

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