How a camera's meter reads the scene
A camera's light meter measures the luminance of the scene and indicates the exposure settings.
The meter averages the light coming through the lens and returns a pair of aperture and shutter speed that will place a mid-grey tone on the recording medium. It does not know whether your subject is snow or coal; it only reports the luminance it sees.
Because the exposure of a scene can be achieved with many combinations of aperture and shutter speed that admit the same amount of light, the meter's answer is a starting point rather than an order. In aperture-priority mode you fix the f-number and the meter picks the shutter; in shutter-priority mode you fix the time and it picks the aperture.
The sunny 16 rule exists so that you can work without the meter at all. It gives the same answer the meter would give on a sunny day, and it can be checked against the meter as a calibration.