Emerging Markets Report: Emerging markets assets sell off over Huawei and global growth worries

Emerging markets assets were awash in the red across the board Thursday as the arrest of a Chinese executive stoked fears that a U.S.-China trade deal may not happen after all, which could lead to heightened tensions and push the global economy to the edge of the precipice.

Meng Wanzhou, chief financial officer of Chinese telecommunications giant Huawei, was arrested in Vancouver, Canada, on the request of the U.S. for allegedly violating sanctions against Iran. The U.S. is now seeking to extradite her. This prompted an outcry from China, demanding her release.

Needless to say, financial markets reacted badly to the news.

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