China launches two missiles in South China Sea as warning to US – SCMP

Chinese military launched two medium-range missiles into the South China Sea a day after an American spy plane reportedly approached the Chinese naval drill, South China Morning Post (SCMP) reported on Wednesday, citing a source close to the Chinese military. 

According to SCMP's Kristin Huang, China wanted to send a warning to the US with this action.

Market reaction

This headline doesn't seem to be having a negative impact on market sentiment. As of writing, the S&P 500 Index was up 0.2% on the day at 3,450.