Stocks were lower on Friday as traders braced for an upcoming news conference on U.S.-China relations from President Donald Trump.
The Dow Jones Industrial Average fell 255 points, or 1%. The S&P 500 slid 0.7% while the Nasdaq Composite was down by 0.1%.
Trump said Thursday afternoon he would hold the news conference, knocking stocks down from solid gains. That announcement came after China approved a national security bill for Hong Kong that experts warn could endanger the city’s “one party, two systems” principle. That principle allows for additional freedoms that mainland China residents don’t have. The news conference is scheduled for 2 p.m. ET on Friday.