China stocks and ETFs drop after the US shoots down suspected spy balloon, raising tensions between the economic superpowers

• Chinese stocks fell after the US military this weekend shot down a suspected Chinese spy balloon. 
• China claimed the balloon was for research purposes. Stocks fell in Shanghai, Hong Kong, and New York. 
• The "damage has been done on the geopolitical front," says BDSwiss.   

Chinese stocks listed in both the US and China fell Monday after the US shot down a suspected Chinese spy balloon that had been flying over the United States, raising concerns about renewed tension between the world's largest economies.