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.
The Nasdaq composite slid 43.37 points, or 0.5%, to 9,368.99.
The Russell 2000 index of small company stocks dropped 35.69 points, or 2.5%, to 1,400.67.
For the week:
The S&P 500 is up 74.28 points, or 2.5%.
The Dow is up 935.48 points, or 3.8%.
The Nasdaq is up 44.40 points, or 0.5%
The Russell 2000 is up 45.14 points, or 3.3%.
For the year:
The S&P 500 is down 201.05 points, or 6.2%.
The Dow is down 3,137.80 points, or 11%.
The Nasdaq is up 396.38 points, or 4.4%
The Russell 2000 is down 267.80 points, or 16.1%.