Global stocks drop with Trump expected to hit back at China

Geopolitical tensions hit global stocks on Friday as investors braced for potential retaliation from Washington after Beijing approved a sweeping national security law for Hong Kong. In early trading in the Asia-Pacific region, Hong Kong’s Hang Seng fell 1.3 per cent. Elsewhere, Australia’s S&P/ASX 200 dropped 1.2 per cent and Japan’s Topix index shed 0.3 per cent. Overnight, Wall Street’s S&P 500 index reversed gains of 1 per cent to close down 0.2 per cent, snapping a three-day winning streak for US stocks.

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