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Stocks stumble as investors contend with tension over Hong Kong

May 23
03:04 2020

Global stocks and crude oil slowed advances made this week as fears over renewed tensions between Washington and Beijing outweighed hopes of more stimulus packages to support the world’s largest economies. Investors sought out havens such as gold and US Treasuries after China moved to assert its authority over Hong Kong with plans to impose a national security law on the territory. The Communist party’s decision earned a sharp rebuke from Washington, where Mike Pompeo, US secretary of state, called the plans a “death knell” for autonomy in the financial hub.

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