Secretary Pompeo reported to Congress that Hong Kong is no longer autonomous from China. Yahoo Finance’s Adam Shapiro breaks down the latest developments.

Video Transcript

ADAM SHAPIRO: Welcome back to Yahoo Finance "On the Move." Checking markets right now. Dow is the only index right now that is in the green. It's up about 150 points.

We had some breaking news. Secretary Pompeo, Secretary of State Pompeo tweeted just moments ago, "Today I reported to Congress that Hong Kong is no longer autonomous from China. Given facts on the ground, the United States stands with the people of Hong Kong." So we're keeping an eye on that, especially because the Yuan is the weakest it's been in eight months versus the US dollar. And of course, there are the efforts on Capitol Hill to rein in China and some of its foreign policy.