The Dow Jones Industrial Average fell 147.63 points, or 0.6%, at 25,400.64, well off its best level at 25,758.79, while the S&P 500 index ended off 0.2% at 3,029.73 and the Nasdaq Composite Index declined 0.5% at 9,368.99.
The U.S. on Wednesday said it no longer considered Hong Kong highly autonomous under a 1992 law, a move that could lead to measures to limit Hong Kong's trade privileges and open the door to sanctions against individuals the U.S. sees as suppressing civil liberties in the territory.
Also on Thursday, the governments of the U.S., Australia, Canada and the U.K. issued a joint statement reiterating their "deep concern regarding Beijing's decision to impose a national security law on Hong Kong," after China's parliament, the National People's Congress passed legislation Thursday that could greatly curtail democratic freedoms.
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