Things were looking neutral in the early going, but more bad economic data has sent markets lower.
GDP came in at a weak 1.8%, and jobless claims surged to a level above 400K for the third weak in a row.
This is on top of several signs the economy is slowing as well as polls showing that economic sentiment has weakened in April, which has barely registered in any official data yet.
The thing to bear in mind, however, is that stocks are at brand new highs, so this little decline in stocks is pretty unimpressive.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.
Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.