Stock futures are slipping following China's assertion that trade talks with the U.S. haven't even started. Key points include:

• Dow, S&P 500, and Nasdaq futures are all stumbling after a two-day rally.
• Analysts are reacting to the news, which raises concerns about future market stability.
• Traders are grappling with the fallout of Trump's recent tariff strategies.

Here's the full scoop on the evolving situation.