Hong Kong police fire pepper pellets at demonstrators

The big picture: The Asian financial hub was crippled last year during several flash-points between police and protesters rallying in their tens of thousands against China's attempts to introduce an extradition bill that was later withdrawn.

• Protesters held smaller protests maintaining physical-distancing as the novel coronavirus hit Hong Kong this year, with authorities banning gatherings of more than eight people.
• But clashes between police and demonstrators returned on Sunday, as thousands rallied against China's plans to implement a national security law.

What to watch: White House national security adviser Robert O'Brien warned Sunday that the U.S. will likely impose economic sanctions on Hong Kong and China if Beijing moves ahead with the proposed security law.