Breaking bad, Wall Street edition

Other factors at play:

• The trade war between the United States and China has gotten personal, with the arrest in Canada of Huawei CFO Meng Wanzhou. That's erased most hopes of a trade truce. Go deeper.
• The Fed is beginning to bite. "Three years’ worth of interest rate increases by the Federal Reserve are finally starting to pinch interest-rate-sensitive sectors, particularly housing, the auto industry and companies with heavy debt loads," Neil Irwin writes in the NYT.
• The Trump tax cuts gave the U.S. economy a one-off boost in 2018. That "won’t be repeated in 2019," writes Irwin, "meaning a harder slog for companies seeking higher profits."

Go deeper: 3 warning signs U.S. economy could be close to recession

Editor's note: This article has been corrected to note that Meng Wanzhou was arrested in Canada. An earlier version incorrectly said she was arrested in China.