Stock futures, already under pressure from unraveling commodities, steepened their losses Thursday after disappointing weekly unemployment data.
Dow futures plunged 59 points, S&P 500 futures slid 9.1 points and Nasdaq 100 futures lost 13.11 points.
Commodities continued to unwind, with oil prices nosing down more than 2% to below $107 a barrel. Silver dived 4% and gold also edged lower.
Initial jobless claims rose to 474,000 for the week ended April 30. That was much higher than the prior week's upwardly revised 431,000 claims and also well above expectations for 410,000 claims.
On the corporate earnings front, General Motors (GM) reported first-quarter profit of 95 cents a share and revenue of $36.2 billion. Both results were above analyst expectations. In a statement, the auto maker said it benefited from "strong customer demand for our new fuel-efficient vehicles" and a "competitive cost structure that allows us to leverage our strong brands around the world."
Among leading stocks, Gulfport Energy (GPOR) plummeted 10% in pre-market trade. The domestic oil producer reported Q1 earnings of 47 cents a share, 3 cents below views. Revenue rose 70% to $46.3 million, above expectations.
Gulfport, an IBD 50 stock, cut its 10-week line in strong trade this week after climbing 76% above its 200-day moving average in March.
China's markets were once again mixed. The Shanghai Composite finished higher, while Hong Kong's Hang Seng index finished lower. Tokyo's markets remained closed on holiday.
In Europe, market slipped after the European Central Bank opted to hold interest rates steady. In afternoon trade, London's FTSE 100 dipped 0.8%, Frankfurt's DAX fell 0.6% and Paris' CAC-40 slid 1.2%.
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