US stocks erase gains, close negative after Trump announces Friday press conference on China | Markets Insider

US stocks erased earlier gains and closed negative on Thursday after President Donald Trump announced he will hold a press conference on Friday regarding China.

The early-day gains came as investors cheered positive trends emerging in Thursday's jobless claims report., fueling optimism that the worst of the coronavirus economic fallout has passed. China's approval of controversial national security laws in Hong Kong also raised concerns of a new conflict between the country and the US.US stocks erased gains and turned negative in the final hours of trading on Thursday after President Donald Trump said he will hold a press conference on Friday regarding China.

Investors have been weighing China's approval of controversial new national security laws in Hong Kong. The move follows Trump threatening retaliation and the US attempting to hold a United Nations Security Council meeting on the legislation. The White House also announced Wednesday it would no longer recognize Hong Kong's political autonomy from China, ratcheting up tensions across the three economic powers.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Why Rising U.S.-China Tensions Are The Biggest Threat To The Stock Market RallyTwo threats to the stock market rally are China’s growing belligerence and the slow reopening from COVID-19 lockdown in big states, such as New York, Illinois and California. Over 100,000 dead in the USA in 10 weeks from Coronavirus, 41 million unemployed, 25% of workforce out of work, several small companies going out of business permanently, and bankruptcies and evictions soaring. No cure or vaccine. Country is more divided than ever. balloon or Harley, if you had to choose one, which would it be
Source: Forbes - 🏆 394. / 53 Read more »

Asia Pacific stocks set to trade mixed as investors weigh U.S.-China tensions, economies reopeningStocks in Asia Pacific were set to trade mixed as investors weighed the potential impact of rising tensions between Washington and Beijing against the reopening of economies as measures to contain the coronavirus pandemic are eased.
Source: CNBC - 🏆 12. / 72 Read more »