Earlier today Pres. Trump while speaking to the press said that US would not be doing business with Huawei. That – along with comments that the September meeting with China might be canceled – sent stocks lower.

The White House is out with a clarification saying that Pres. Trump was referring to only the ban on federal departments buying from Huawei. They add that the process for special licenses is still going forward.

As a result, the stocks have rebounded with the NASDAQ down -81 points or -1.02% at 7957. The low reached 7910.348. The S&P is currently down -22.8 points at 2915.19. The low reached 2900.15.