NEW YORK (CNNMoney) -- Stocks fell Thursday, as worries about a global growth slowdown resurfaced following weak manufacturing reports and a surprise increase in the number of U.S. jobless claims.
The selling started early, after reports indicated that manufacturing hit a nine-month low in China and contracted across the eurozone for the seventh month in a row. The U.S. Labor Department also reported a surprise jump in jobless claims.
But a housing report showed sales of new homes picking up.
"We continue to get that confusing, two-sided economic data," Detrick said. "Everyone in the end is simply scratching their heads...trying to figure this out."
Investors also continue to keep tabs on Europe, as French President Francois Hollande and German Chancellor Angela Merkel meet Thursday to discuss Greece. Greek Prime Minister Antonis Samaras has reportedly been pushing for a two-year extension of the country's bailout program.
While stocks were headed lower, the actual number of shares changing hands remains low, and Wall Street trading volume is expected to stay light for the rest of August.
Currencies and commodities: The dollar lost ground against the euro and the Japanese yen, but edged slightly higher against the British pound.
Oil for October delivery fell 99 cents to $96.27 a barrel.
Gold futures for December delivery rose $32.30 to $1,672.80 an ounce.
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