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Global markets experienced a downturn on Thursday, reversing recent gains, after China denied ongoing trade negotiations with the US. Asian markets showed mixed results, while European benchmarks fell. US futures indicated a lower opening for the S&P 500. This follows market volatility driven by President Trump's trade comments. Chinese officials stated that any claims of progress in trade talks are baseless rumors, emphasizing their firm stance on the trade dispute.

Prepared by Christopher Adams and reviewed by editorial team.