The Dow Jones Industrials collapsed 530.16 points, or 1.4%, to 39,596.98.
The S&P 500 slipped 64.28 points, or 1.2%, to 5,147.21.
The NASDAQ sank 228.38 points, or 1.4%, to 16,049.08. Key stocks like Nvidia and Alphabet also gave up their gains on the day.
So far this week, the S&P 500 is down 1.9%, with three out of four days in the red. The 30-stock Dow has lost roughly 2.9% week-to-date, while the NASDAQ has dipped 1.7% during the week.
According to data released Thursday, initial jobless claims increased more than expected last week, hitting their highest level since late January. Additional data posted by the Commerce Department reflected an increased in the trade deficit to $68.9 billion in February, slightly higher than the Dow Jones estimate.
Investors are now awaiting Friday for the release of March’s non-farm payrolls.
Prices for the 10-year Treasury marched ahead, lowering yields to 4.31% from Wednesday’s 4.35%. Treasury prices and yields move in opposite directions.
Oil prices reasserted themselves $1.22 to $86.65 U.S. a barrel.
Gold prices hesitated $10.10 to $2,304.90 U.S. an ounce.