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U.S. and Europe Stock markets close lower

Dow falls from record amid disappointing jobs data and weak Walmart forecast

U.S. stocks slid on Thursday as investors were discouraged by a worse-than-expected jobless claims reading as well as a weak forecast from Walmart.

The Dow Jones Industrial Average fell 119.68 points, or 0.4%, to 31,493.34, slipping from a record high. At its session low, the 30-stock benchmark was down more than 300 points. The S&P 500 dipped 0.4% to 3,913.97, falling for a third straight day. The Nasdaq Composite slipped 0.7% to 13,865.36 as investors continued to rotate out of high-flying tech.

Walmart shares dropped 6.5% after its fourth-quarter earnings fell short of Wall Street estimates. The big-box retailer sees sales growth slowing this year as the pandemic momentum ebbs. It said earnings per share will decline, but will range flat to slightly higher after excluding divestitures. 

European markets close lower as investors monitor key earnings and U.S. jobs data

European stocks closed lower on Thursday as investors digested earnings from big names in the region, including Airbus, Barclays and Daimler, along with key U.S. jobs data.

The pan-European Stoxx 600 provisionally closed down by 0.8%, with oil and gas shares sliding 2.2% to lead the losses as most sectors and major bourses dipped into negative territory.

Reference: CNBC