(CNBC) Stocks closed lower on Thursday, erasing solid gains from earlier in the day, after President Donald Trump said he would be giving a news conference Friday regarding China.
The Dow Jones Industrial Average fell 147 points, or 0.6%. At its session high, the Dow was up 210 points. The S&P 500 slid 0.2%, giving back a jump of 1%. The Nasdaq Composite dropped 0.5%.
Advertisement - story continues below
Trump’s announcement came after China’s National People’s Congress approved a national security bill for Hong Kong. The bill will bypass Hong Kong’s legislature, raising concerns over the longevity of Hong Kong’s “one party, two systems” principle, which allows additional freedoms mainland China does not have.