US stocks fall as traders remain cautious on economic growth outlook

Traders are seen working on the New York Stock Exchange (NYSE). Spencer Platt/Getty Images
The US stock market fell on Thursday with the S&P 500 losing for the fourth consecutive session.

Recent economic data has led investors to remain cautious about the prospects for global growth.

GameStop has cut losses after its earnings report sent shares sharply higher earlier in the day.

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US stocks closed lower Thursday due to investors remaining cautious about the outlook for global economic growth given recent economic data. All other than financials, all sectors of the S&P 500 fell.

According to data from Thursday's Labor Department, weekly jobless claims dropped to 310,000 last Wednesday, setting a new pandemic-era low. Economists predicted that claims would fall to 335,000. The print recorded a second consecutive weekly decline.

The Federal Reserve's August Beige Book noted that momentum also waned, indicating that economic growth had slowed down in the past month.

Here are the US indexes at 4 p.m. ET closes on Thursday

GameStop lost as much as 10% Thursday before paring its losses. The video retailer, which is a favorite among social media traders, posted a quarterly adjusted loss. It was larger than expected and chose not to provide financial guidance.

After falling to $44,000 in the early hours of Thursday morning, Bitcoin traded at $46,600 on Thursday morning. Solana is currently the world's biggest cryptocurrency, having reached an all-time high at $216.47 overnight. Altcoin has risen by more than 420% over the past month

West Texas Intermediate crude fell as much as 1.82% to $68.04 a barrel. Brent crude oil, the international benchmark for oil, fell 1.72% to $71.35 per barrel at intraday lows.

The gold price was stable at $1796 an ounce