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Commenting on the latest developments regarding the US-China trade relations, “the US and China are still working on trade, the deal is continuing,” White House economic adviser Larry Kudlow said on Friday.

“Coronavirus economic relief must focus on incentives such as payroll tax cuts,” Kudlow further told reporters. “No coronavirus relief package should go through without some form of liability protection.”

Market reaction

These comments failed to help market sentiment improve. After rebounding from session lows in the last hour, Wall Street’s main indexes, once again, turned south. As of writing, the Dow Jones Industrial Average and the S&P 500 were both down 1% on the day.