David Tepper says the bull market is in the late innings and he's sold some stock holdings

Appaloosa Management's David Tepper shared his market views on Thursday.

"If we do the tariffs on China that's going to make it a little bit tough on the market," he said on CNBC's "Halftime Report" Thursday.

In January, Tepper told CNBC the bull market in stocks still has room to grow, citing President Donald Trump's tax cuts and equity valuations.

From inception in 1993 Tepper's hedge fund generated gross annual returns of more than 30 percent, according to a source familiar with the firm's returns. Appaloosa Management has approximately $14 billion of assets under management.

The billionaire investor is also the owner of the National Football League team Carolina Panthers.

This is a breaking news story. Check back for updates.

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