China is demanding the release of Huawei CFO Meng Wanzhou from Canada after she was arrested there for violating Iran sanctions and faces extradition to the U.S., calling it a violation of her human rights. the AP reports.

Why it matters: Meng's arrest could have quick, dramatic impacts in international politics and global technology sales, as Axios' Joe Uchill reported. Huawei is one of the Chinese government's "pet companies" — and Meng is the daughter of its founder. Markets have already dipped around the world today after the incident, amid fears it could ignite a new round in the U.S.-China trade dispute.