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Tensions between the United States and China have risen in recent weeks after President Trump criticized the Chinese government's response to the coronavirus outbreak.
Investors were worried that Trump may pull out of the phase one trade agreement with China reached earlier this year.
That's why they sold off stocks into the close yesterday.
And throughout most of the day today.
But fortunately, the President didn't even bring up the trade agreement during his press conference today.
Instead, Trump announced he would take action to eliminate special treatment towards Hong Kong.
Money Morning's Chief Investment Strategist Shah Gilani was watching this press conference closely and dissecting all the news that came to light today.