European stocks ended sharply lower on Thursday, marking their worst one-day performance since June 2016, amid slumping oil prices, concerns about global economic growth and the arrest of a high-profile Huawei executive aggravating the resurfaced U.S.-China trade-war fears. Banking, oil and technology stocks led the decliners. What are markets doing? The Stoxx Europe 600 SXXP, -3.09% closed down 3.1% at 343.31, having logged its largest one-day point and percentage decline since June 27, 2016, according to Dow Jones Market Data. The stock index ended down 1.2% on Wednesday. Germany’s DAX 30 DAX, -3.48% closed 3.5% lower at 389.26. The benchmark hit a fresh 52-week low and was off 20.3% from its most recent peak in January, meeting the widely used definition for a bear market. The euro EURUSD, -0.0879% was stronger versus the U.S. dollar, last fetching $1.1385, up from $1.1344 late Thursday in New York.The British pound GBPUSD, -0.1252% was up $1.2786, up from $1.2735. Global stocks suffered on Thursday after the arrest of Meng Wanzhou , chief financial officer of Chinese telecom giant Huawei Technologies, in Canada by request of the U.S. over violating Iran sanctions. Chinese authorities in turn demanded her release. The arrest hurt risk […]
