Dow Turns Negative After Trump China Announcement

President says he will give a news conference Friday amid rising tension
By Newser Editors,  Newser Staff
Posted May 28, 2020 3:13 PM CDT

(Newser) – Wall Street's recently rally sputtered Thursday as the major indexes ended up in the red. The Dow fell 147 points to 25,400, the S&P 500 fell 6 points to 3,029, and the Nasdaq fell 43 points to 9,368. All three losses were well under 1%. For much of the day, it appeared the markets were going to extend their gains. Had the S&P notched a fourth straight day in the black, it would have been its longest streak since early February, per the AP. However, the markets began to drop in the afternoon after President Trump announced he would give a news conference Friday on China, reports CNBC. Investors are apparently worried that US-China relations are headed for a rough stretch over China's move to exert more control over Hong Kong. (Read more stock market stories.)

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