US stocks fall, Nasdaq touches one-month low

US stocks closed Thursday lower as investors assessed the economic slowdown at the end of 2024. This also came after President Donald Trump confirmed that tariffs on Canada, Mexico, and China will take effect on March 4.

The Dow Jones Industrial Average dropped 0.45%, or 193 points, to settle at 43,239 points, its lowest level since Jan. 16.

The S&P 500 index fell 1.6%, or 94 points, to 5,861 points, and Nasdaq Composite plunged 2.8%, or 530 points, to close at 18,544 points, its lowest level since Jan. 27.

As for European markets, the STOXX Europe 600 inched down 0.45% to 557.1 points.

Meanwhile, the British FTSE index rose 0.3% to 8,756 points, while the German DAX index was down 1% to 22,550 points. The French CAC 40 index added 0.5% to 8,102 points.

The Nikkei index advanced 0.30% to 38,256 points, and the broader Topix index gained 0.75% to 2,736 points.

Brent crude futures for April delivery leapt 2.1%, or $1.51, to $74.04 per barrel. The US West Texas Intermediate (WTI) crude futures for April delivery also increased over 2.5%, or $1.73, to $70.35 per barrel.

Regarding gold, futures prices for April delivery were up 1.2%, or $34.7, to $2,895.9 per ounce.

US real GDP increased by 2.3% YoY in the fourth quarter of 2024, according to the second estimate released by the US Bureau of Economic Analysis. In the third quarter, real GDP rose 3.1%.