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Commenting on the trade dispute with the United States, China’s ambassador to London,  Liu Xiaoming, said that he was optimistic about the future of the US-China trade relations.

Regarding the protests in Hong Kong, “If the situation deteriorates in Hong Kong into uncontrollable unrest, the central government will not sit by and watch, we have enough power to quell unrest,” the ambassador told reporters, per Reuters.

Xiaoming’s remarks did little to nothing to ease the market tension. As of writing, the 10-year US Treasury bond yield was down nearly 3% on the day and all the major equity indexes in Europe were erasing more than 1%.