Wall Street traded lower on Thursday as the outlook for a trade deal with China dims and a rare decline in subscribers at Netflix sends its stock plummeting.

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I:COMP NASDAQ COMPOSITE INDEX 8158.843136 -26.36 -0.32%

The streaming site posted a loss of 126,000 paid users in the U.S. and missed expectations for international additions, a key area of growth for the firm, in the second quarter. Executives attributed the shortfalls to a weak slate of content. Netflix shares were down double-digits in futures trading on the news.

Meanwhile, President Trump on Wednesday took another dig at China, blasting its slowing economy and touting the U.S.’s economic strength at a rally on Wednesday, as the two nations seek to restart trade talks. But Trump and top White House officials are cautioning that any agreement is far in the future, spurring pessimism among investors that a deal is possible.

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