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The Business Insider: The Money Game Global stocks dive after China sets up a fresh showdown with Trump and shocks investors by announcing a new Hong Kong security law
  • Global stocks dropped Friday after China imposed new rules that seek to extend its powers over Hong Kong and allow it to crack down on dissent in the semi-autonomous region, setting Beijing up for a showdown with the US.
  • Hong Kong's Hang Seng index shed more than 5% on the day, while European stocks also dropped, and US futures pointed to a fall of 0.7% on the Dow Jones Industrial Average.
  • Both US and international oil benchmarks also tumbled on the news.
  • "If it happens we'll address that issue very strongly," US President Donald Trump said on Thursday when asked about the possible imposition of a law such as the one introduced Friday.
  • "The very real threat now, is the return of mass protests to the streets of Hong Kong, a downgrade in trade status with the US," one analyst said.
  • Visit Business Insider's homepage for more stories.
  • Asian indexes fell with, Hong Kong's Hang Seng down 5.1%, and Japan's Nikkei down 0.16% and China's Shanghai Composite down 0.6%.
  • European equities fell, with Germany's DAX down 0.35%, Britain's FTSE 100 down 0.6%, and the Euro Stoxx 50 is up 0.18%.
  • US stocks are down. The Dow Jones Industrial Average is down 0.41%, the S&P 500 is down 0.1% and the Nasdaq fell around 0.23%.
  • Both West Texas Intermediate and Brent crude oil fell more than 3%.
  • The benchmark 10-year Treasury yield fell 0.83% to 0.67%. 
  • Gold is up 0.67% to $1,737.29 per ounce.
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