Wall Street slides on global growth fears erases S&P's 2018 gains

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(Reuters) – The S&P 500 and the Dow Jones Industrial Average slipped back into losses for the year on Thursday as U.S. stocks slid on mounting worries of slowing global growth after a fresh twist in China-U.S. tensions as well as falling oil prices and U.S. bond yields.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 6, 2018. REUTERS/Brendan McDermid

The Dow sank more than 3 percent, or over 750 points, while the S&P and the Nasdaq shed roughly 2.5 percent, adding to a more than 3 percent tumble for the three indexes on Tuesday.

Canada arrested Chinese smartphone maker Huawei Technologies Co Ltd’s chief financial officer for extradition to the United States, casting fresh doubts over the prospect of Beijing and Washington striking a deal on trade tariffs in their 90-day truce period.

“Disappointment in the China agreement and the arrest of Huawei CFO is on everybody’s mind today and it puts a damper in the trade talks,” said…



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