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U.S. stocks slid on Thursday as investors were discouraged by a worse-than-expected jobless claims reading as well as a weak forecast from Walmart.

The Dow Jones Industrial Average fell 119.68 points, or 0.4%, to 31,493.34, slipping from a record high. At its session low, the 30-stock benchmark was down more than 300 points. The S&P 500 dipped 0.4% to 3,913.97, falling for a third straight day. The Nasdaq Composite slipped 0.7% to 13,865.36 as investors continued to rotate out of high-flying tech.

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