The fear of increasing tensions in the trade dispute between the United States and China have the German stock market on Thursday. The Dax recorded the biggest one-day loss since two and a half years. Trigger was the arrest of the chief financial officer of the Chinese smartphone manufacturer Huawei in Canada was. The United States is calling for their extradition. The dispute charged to the stock exchanges in the world. Also in Asia and in the USA, the prices fell.
The Dax fell below the mark of 11,000 points, and reached in the morning with 10.884 meters, the lowest level in two years. In the course of the day, he rose again somewhat, but still remained below the 11,000-point mark. At the end of the day, he fell to 3.5 percent and concluded with just 10.811 points.
Since last Monday, the Dax has lost around 5.5 percent in the current year by around 15 percent. The MDax of medium-sized companies fell on Thursday to a 2.46% to 22.605,84 counters. The Euro-zone leading index EuroStoxx 50 fell by 2.3 percent.
In the USA, the leading indices Dow Jones, Nasdaq and S&P 500 fell at the opening on Thursday at approximately 1.5 percent.
allegations against Huawei
In Western industrialized countries, there are already longer allegations against Huawaei. It is feared, by the company, the Chinese government could exert influence, spying, and the national networks interfere.
Now a new, politically explosive allegations: in Canada, The arrested Manager, Meng Wanzhou, should have failed according to Reports, against US sanctions against Iran. Similar sanctions violations brought in the past already the second-largest Chinese network, Bauer ZTE sharp conditions and in the meantime, US a delivery prohibition. Meng is the daughter of Huawei founder.
As the canadian Ministry of justice announced only now, was Meng already been taken on the Saturday after the request of the US authorities in Canada – so on the same day, came together to the US President Donald Trump with his Chinese counterpart Xi Jinping at the G20 summit in Argentina. Investors had hoped after the Meeting, the two leaders actually to relaxation, said chief strategy Linus Yip from the investment house First Shanghai Securities. Accordingly, the nervousness in the market.
Huawei confirmed the arrest and said at the same time, to have no knowledge of the Offense, the financial boss. The Chinese Embassy in Canada called for the immediate release from Meng. A spokesman for the Chinese foreign Ministry said it had asked Canada and the US to enlightenment, but yet it is not a “clarification”.