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Global stocks fall and oil slides as OPEC weighs cuts

Oil prices fall sharply as OPEC meets; arrest of Huawei finance chief stokes worries of escalation in US-China tensions

US futures point to a gloomy opening in New York
US futures point to a gloomy opening in New York Photo: Getty Images

Stock markets around the world fell sharply Thursday, with the arrest of a high-profile Chinese executive in Canada rattling hopes for thawing US-China trade relations, while energy prices resumed their steep drops.

Europe’s Stoxx 600 index fell 2.3% in morning trading, with the benchmark’s technology and basic-resources sectors both sliding more than 3%. Shares in European oil-and-gas companies slumped as the fall in energy prices accelerated.

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