President Trump Signs Bill Supporting Hong Kong Protesters Against China's Wishes

President Donald Trump signed the Hong Kong Human Rights and Democracy Act late Wednesday night, a move that shows solidarity with protesters in Hong Kong and is sure to anger the Chinese government, with whom the president is negotiated a large-scale trade deal that affects the entire market.

“The Hong Kong Human Rights and Democracy Act reaffirms and amends the United States-Hong Kong Policy Act of 1992, specifies United States policy towards Hong Kong and directs assessment of the political developments in Hong Kong,” the White House said in a statement.

The move has already sent futures markets down in after-hours trading, and China expressed concern Monday by saying the legislation was considered "meddling" in Hong Kong domestic affairs and threated "consequences" if President Trump signed it.