Stock market today: Dow, S&P 500, Nasdaq futures slide as bond sell-off troubles markets, China's Xi Jinping lands in US

US stock futures slid on Thursday as inflation fears and rising bond yields outweighed hopes for Middle East diplomacy and for the artificial intelligence boom to continue its run.Futures on the Dow Jones Industrial Average (YM=F) fell by 0.3%, while those on the S&P 500 (ES=F) declined by 0.6%. Contracts for the Nasdaq-100 (NQ=F) dropped 1% following a down day on Wall Street.Markets remained subdued amid a sell-off in bonds and concerns about sticky inflation. On Wednesday, the benchmark 10-year yield hit its highest level since 2007 after a S&P economic barometer showed strong business growth, adding to inflation pressures.President Trump's meeting with Chinese leader Xi Jinping, meanwhile, remains the key event to watch in markets on Thursday. Treasury Secretary Scott Bessent said the US and China agreed to extend their trade truce for two more months, ending Jan. 10, leaving artificial intelligence competition, the war in Iran, and critical minerals as the primary topics to be discussed. On Thursday, several top US tech CEOs will join the leaders for a dinner.Speaking of Big Tech, Meta unveiled cameraless VR glasses and plans for monetizing its Muse AI agent at its Connect event on Wednesday evening. The company's Muse agent has become a top app in App Stores and was credited with helping to revive AI demand optimism in recent days.In other corporate news, Darden Restaurants (DRI) stock fell after the company’s first quarter results missed expectations. Costco Wholesale Corporation (COST) will report earnings after the bell. Initial jobless claims numbers and new home sales data highlight the economic data calendar.