Stocks decline after Trump OKs bill

Global stock markets fell Thursday after President Trump signed a bill supporting human rights in Hong Kong, potentially increasing tensions as the U.S. and China talk about ending their trade war. Trading volumes were muted, however, with the U.S. closed for Thanksgiving.

China reacted with indignation to the legislation, which Congress passed with overwhelming support. Beijing summoned U.S. Ambassador Terry Branstad for a dressing down and issued multiple statements threatening unspecified countermeasures.

In Hong Kong, where sometimes violent protests have dragged on for nearly six months, the Hang Seng index lost 0.2% to 26,893.73. The Shanghai Composite index lost 0.5% to 2,889.69.

In Europe, Britain’s FTSE 100 declined 0.4% to 7,402 and the CAC 40 in Paris gave up 0.3% to 5,908. Germany’s DAX declined 0.4% to 13,235.

U.S. futures were modestly lower, with the contracts for both the Dow Jones industrial average and the Standard & Poor’s 500 losing 0.3% and 0.2%, respectively.

U.S. markets were closed Thursday for Thanksgiving and open for half a day Friday.

Trump’s move did not come as a surprise, given the pressure from both Democrat

and Republican lawmakers to support the legislation.

But it’s unclear whether the human rights bill, which Beijing views as “meddling” in China’s internal affairs, might derail recent progress in trade talks with Washington.

Japan’s Nikkei 225 index lost 0.1% to 23,409.14 while the Kospi in Seoul shed 0.4% to 2,118.60. Australia’s S&P ASX 200 gained 0.2% to 6,864.00. India’s Sensex added 0.1% to 41,059.51.