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The U.S. hits Chinese officials with more sanctions. China's markets price in deleveraging. Suga is set to unveil his first stimulus package.

The U.S. announced sanctions Monday against 14 members of China’s National People’s Congress as the Trump administration ratchets up pressure on Beijing over its crackdown on Hong Kong. The 13 men and one woman targeted with asset-freezes and travel bans are all vice chairpersons of the NPC’s standing committee. Earlier Monday, after news of the impending sanctions filtered out, Chinese Foreign Ministry spokeswoman Hua Chunying said Beijing would take countermeasures should the U.S. continue down the “wrong path.” Meanwhile, Hong Kong police made a series of arrests over a university protest last month, heightening concerns about an erosion of academic freedom there.