US, China trade fears fuel market's roller coaster ride

Posted: Updated:
MANHATTAN -

For the second day in a row, global uncertainty has caused the stock market to dip drastically.

The escalating trade war between the U.S. and China forced the Dow to drop more than two percent at the opening bell after falling nearly three percent on Tuesday.

To add fuel to the fire, the chief financial officer of the Chinese tech giant Huawei was arrested in Canada reportedly on suspicion of violating U.S. sanctions on Iran. 

"The only correct way to solve the trade dispute between China and the U.S. is talk and consultation on the basis of equity, integrity, and mutual respect," said Geng Shuang, a spokesperson for the Chinese Foreign Ministry.

OPEC may now be looking to cut oil production by as much as $1.3 billion barrels a day after U.S. crude prices in November dropped at a rate not seen since the global financial crisis in 2008.

President Donald Trump tweeted saying, "Hopefully OPEC will be keeping oil flows as is, not restricted." 

With policy uncertainties still in play, mark volatility will likely stay right alongside.

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