Stocks stumble after Trump warns tariffs on China could remain for a 'substantial period of time'

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President Donald Trump.

• Stocks in the US fell Wednesday after President Donald Trump told reporters he could leave tariffs on Chinese goods for a "substantial period of time."
• "Not what we wanted to hear," wrote Peter Boockvar, the chief investment officer at Bleakley Advisory Group, in a note to clients following Trump's comments.
• Follow the stock market's moves in real-time.

Stocks in the US fell to session lows Wednesday after President Donald Trump told reporters that he was "talking" about leaving tariffs on China for a prolonged period of time.

"We're not talking about removing, we're talking about leaving them for a substantial period of time because we have to make sure that if we do the deal with China that China lives by the deal," he said.

The Dow Jones industrial average, S&P 500, and Nasdaq Composite all fell nearly 1% before briefly recovering.

"Not what we wanted to hear," said Peter Boockvar, the chief investment officer at Bleakley Advisory Group, in a note to clients following Trump's comments.

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