U.S. markets were closed Monday for the Memorial Day holiday, but investors are expected to keep a close watch on Wall Street this week as tensions between the U.S. and China rise and coronavirus restrictions are gradually lowered.
The U.S. has threatened sanctions on China over a proposed laws that would increase Beijing’s security regime in Hong Kong. Critics say this threatens Hong Kong’s high degree of autonomy. China calls it a national security measure and warns against foreign interference in its internal affairs.
Asian markets were mixed Monday with Hong Kong’s Hang Seng index down a fraction and Tokyo’s Nikkei up nearly 2%.
European markets were also mixed with London down a fraction, Paris up 2% and Frankfurt nearly 3% higher as some European nations ease COVID-19 restrictions.