Wall Street futures slip after Trump–Xi meeting ends with no major deal
US stock market futures turned lower on Thursday as optimism faded after a 90-minute meeting between President Donald Trump and Chinese President Xi Jinping in Busan.

The highly anticipated talks ended without a major trade breakthrough. The US agreed to cut tariffs on Fentanyl-related imports to 10% from 20%, while China pledged to continue rare earth exports and cooperate on curbing the Fentanyl crisis.

By 2:30 PM ET, Dow Jones futures were down 200 points, reversing early gains of over 100 points. S&P 500 futures fell 16 points, and Nasdaq futures dropped 60 points as traders reacted to cautious headlines and mixed earnings from Big Tech.

Trump says China will buy US oil, gas, and soybeans.

President Trump said China has agreed to begin large-scale purchases of American energy and restart soybean imports.

In a post on Truth Social, Trump said Chinese officials would soon meet with US energy leaders including Chris Wright and Doug Burgum to finalize oil and gas deals, particularly with suppliers from Alaska.

Beijing later confirmed it would suspend certain export controls and extend its pause on rare-earth restrictions for one year, signaling limited progress in trade diplomacy.