Stocks gave up an early rally and closed slightly lower Thursday as traders turned cautious over escalating tensions between the U.S. and China.
The S&P 500 had been up 1.1% before sinking in the last hour after President Donald Trump said he would hold a news conference on China Friday. The announcement came a day after China’s legislature endorsed a national security law for Hong Kong that has strained relations with the U.S. and prompted new protests.
The S&P 500 index fell 6.40 points, or 0.2%, to 3,029.73.
The Dow Jones Industrial Average lost 147.63 points, or 0.6%, to 25,400.64.