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Stay positive on U.S. stocks: Market strategist Huawei CFO arrest sends stocks tumbling U.S. stocks retreated with crude oil on persistent concern that the rate of global economic growth has peaked at the same time central banks scale back stimulus. Canadian stocks were also in the red. The S&P/TSX Composite Index was down 344.69 points, or 2.27 per cent, to 14,837.95. The S&P 500 slumped for a second day, though resilience in large technology stocks pulled the measure up from a loss that topped 2 per cent. Netflix led gains among the FANG cohort. Financial markets remained volatile on bets that the trade truce between China and the U.S. won’t last after the arrest of Huawei’s chief financial officer. Bank shares in the S&P 500 fell more than 2.5 per cent, as Treasury yields slid to the lowest since August. Traders have started to doubt the Federal Reserve will raise rates even once next year as economic growth falters. Oil continued to be a drag on financial markets, with West Texas Intermediate back to US$51 a barrel as OPEC ministers seek a deal to cut output. Energy producers in the S&P 500 sank more than 3 per cent, and […]
