$SPY From a diplomatic view, there is nothing US can do about the issues in HK, after all, they are the matters within China. So the two laws that Trump signed were only for show, there wont be any serious impacts, or even jurisdiction on what happen in China. Btw, did anyone look into what were those two laws? They were basically diplomatic finger pointing. And as the the matter of Trade deal, neither Trump nor the China can hold back Trade Talk just because of the HK issues. That will be US actually interfering other country’s internal matters. All Trump can do is to put up a show, legalized those two laws, and pointed his finger across the earth, like a Mr. Justice, when he can barely clean his own house. So I say the markets don’t care so far.