Carnage Continues: US Futures Flash Crash After Huawei CFO Arrest

Update 2: Things are escalating fast, with the Chinese embassy in Canada said China has complained to the U.S. and Canada and asked them to "rectify wrongdoings" and free Huawei CFO Meng Wanzhou. The embassy said it will closely monitoring development of the matter and take all actions to protect legitimate interests of Chinese citizens.

In a statement on its embassy, China says that it firmly opposes and strongly protests Canada’s arrest of a Chinese citizen who didn’t violate any U.S., Canada laws, adding that the arrest upon U.S.’s request severely violates human rights.

And finally, in what may provoke even further deterioration in relations - forget a trade truce - Reuters reports that the hackers behind the breach at Marriott International left clues suggesting they were working for a Chinese government intelligence gathering operation. Reuters adds that the private investigators looking into the breach have found hacking tools, techniques and procedures previously used in attacks attributed to Chinese hackers.

In other words, just like the "Russian hackers" who broke into the DNC and allegedly did so in cyrilic, this time the best Chinese hackers did everything they could to get caught.

Brilliant.

* * *

Update: Huawei, in a statement, said the arrest was made on behalf of the U.S. so Meng could be extradited to “face unspecified charges” in the Eastern District of New York.

“The company has been provided very little information regarding the charges and is not aware of any wrongdoing by Ms. Meng,” Huawei said.

“The company believes the Canadian and U.S. legal systems will ultimately reach a just conclusion. Huawei complies with all applicable laws and regulations where it operates, including applicable export control and sanction laws and regulations of the UN, U.S. and EU.”

***

Having taken a day off to watch Bush's funeral - drifting modestly higher before the early close - reports of the arrest of Huawei's CFO at the request of US authorities has sparked carnage at the re-open on extremely heavy volume...

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Gary Anderson 1 week ago Contributor's comment

That was a quick end to peaceful trade vibes.

Kate Monroe 1 week ago Member's comment

Meng is not only CFO, but also the Huawei founder's daughter...if I were Ivanka Trump I'd stick to domestic travel for a while....