Bloomberg is reporting that China is set to sanction US officials in response to Washington's move against Hong Kong's leader Carrie Lam. S&P 500 futures have turned down in response to the news.
The Chinese foreign ministry named Senators Marco Rubio and Ted Cruz in its sanctions list, alongside other figures such as Michael Abramowitz and Kenneth Roth.
Earlier, authorities in the city-state arrested Jimmy Lai – a pro-democracy media mogul – under the Beijing-imposed security law.
A Chinese fighter jet has briefly crossed the median line of the Taiwan Strait, raising concerns in the island nation. The move is seemingly in response to the visit of US Health Secretary Alex Azar to Taipei.
The Chinese foreign ministry said it is prepared for obstacles and setbacks in relations with the US and reiterated it is firmly opposed to the recent US-Taiwan exchanges.
S&P 500 futures have turned negative, changing hands at around 3,354 at the time of writing. Investors are also eyeing fiscal talks in Washington and digesting Friday's Non-Farm Payrolls.
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