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Dow Jones Industrial Average fell 59.03 points (0.57 percent) to 10319.52 at close of trading, after losing more than one percent in early trade.

Technology-heavy Nasdaq composite index slumped 18.36 points (83 percent) to 2190.27 while the S & P 500 index which fell 5.88 points greater (0.54 percent) at 1083.59.

"There are some built skepticism about the market that do not advance further in the months of August," said Marc Pado, U.S. market strategist for Cantor Fitzgerald.

"You already know the economy will slow down, the question of how much to slow down, you really expect the number to tick down."

The data was released before the market opening showed the U.S. unemployment benefits rose abruptly last week to its highest level in about six months, triggering the problem of unemployment can reduce recovery.

Initial claims rose by 2,000 to 484 000 a week until August 7 from the previous week revised up the number 482 000.

Most economists estimated 465 000 new claims.

On Wednesday, Wall Street dived down because the data showed the U.S. trade gap has widened sharply in June - the highest level in 20 months - piling on the bleak outlook by the Federal Reserve.

Dow Jones Industrial Average slumped 2.49 percent, the worst percentage decline in nearly a month.

Stock markets worldwide also slumped on Thursday, as investors cast a lot of risky assets in support of trade safe haven amid rising fears of a double-dip recession (W-shaped recession).

"Some sessions (trade) will next give clues whether the pessimism rises enough for the stock pulled back a moment, or whether the market is in for the pullback, even further," said the head of market strategy teknal Wells Fargo, Scott Marcouiller. (A026/K004)

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