Shares of Alibaba, JD.com, and other Chinese companies were falling on Thursday after Beijing dispelled rumors that negotiations to abate the U.S.-China trade war were in the works. The markets rallied on Wednesday amid media reports that a resolution may be coming,

U.S. stock futures point to a lower open, a day after stocks rallied on hopes of a thaw in the U.S.-China trade war and that Fed Chairman Jerome Powell will get to keep his job.

After a 2-day relief buoyed investor confidence, futures slipped signaling a weaker start to the day on Wall Street.