The S&P 500 Index touched an eight-month low as traders concerns about global trade woes still linger. The arrest of Huawei’s CFO has caused further uncertainties and until this and other trade worries are settled, markets will remain nervous.
The pound dropped to its weakest level in almost 20 months and government bonds rallied as U.K. Prime Minister Theresa May said she was stepping up preparations for no Brexit deal. Sterling fell more than 1.5 percent against the dollar as May confirmed the vote in Parliament on her Brexit deal will be delayed, without giving a new date. She will try to address lawmakers’ concerns over the Irish border with European Union leaders as she warned no deal would cause short-term economic damage.