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U.S. Secretary of State Pompeo sent a letter to submit a report to Congress, pointing out that Hong Kong no longer enjoys a high degree of autonomy under China and that Hong Kong is no longer guaranteed the treatment granted by the United States before its return.

One of the treatments may mean suspending the zero-tariff special treatment for Hong Kong's exports to the United States, which means that the United States government may impose the same tariffs on Hong Kong's exports as on mainland China.

At this stage, the world's two largest economies are playing games, but the two tigers are fighting each other, and one cannot be intact. The removal of Hong Kong's special status by the United States will also affect its own economy!  Therefore, the U.S. moves this time are based on international morality.

Whether it is Trump's political show for this election year or not, it has caused market turmoil.  What is even more unfortunate is that Hong Kong has not only become a pawn, but also become a millstone. Its fate has gone wrong.   

Hong Kong stocks generally fell in american depositary receipt, but U.S. stocks generally closed higher. Apart from the market's expectation that U.S. stocks will gradually recover after the U.S. economy is unsealed and restarted, the two stocks will rise higher and fall lower.

It is also a demonstration that the market is reflecting the current Sino-US rivalry. Who has the upper hand?  Oil prices dropped sharply, mainly because of tensions between China and the United States.  In addition, the market spread that Russia hopes to ease the reduction of oil production from July.

New york Oil closed at $32.81 a barrel, down $1.54, or 4.5%.  However, data released by american petroleum institute this morning showed that US crude oil stocks unexpectedly increased by 8.7 million barrels last week, while the market originally estimated a decrease of 1.9 million barrels.

Gold prices showed repeated performance, dropping from a high of 1716 to a low of 1694 shortly after the opening of the market, rebounding to close at $1,709 an ounce through a letter from Pompeo to the Congress.   

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