Global markets fall as China moves to tighten control over Hong Kong

Investors fear move will further heighten tensions between Beijing and Washington

Fears that moves by China to tighten its political control over Hong Kong will lead to heightened tensions between Beijing and Washington have weighed on international markets.

With investors already anxious about the economic damage caused by the Covid-19 pandemic, the crackdown on dissent in Hong Kong caused shares to fall in Asia and in the US on Friday.