NASDAQ closes down 530 points, marking heftiest loss in a month

US stock indices fell on Thursday despite earlier positive data, as Wall Street remains under pressure from the flaring trade war. 

Earlier data showed US GDP growth rose 2.3% on a quarterly basis in the fourth quarter, compared to a 3.1% rise in the third quarter.

US unemployment claims rose by 22 thousand to a three-month high at 242 thousand last week, beating estimates of 222.5 thousand.

US President Donald Trump announced that the 25% tariffs on Mexican and Canadian commodities will be enforced in early March.

At the close, Dow Jones fell 0.5%, or 193 points to 43,239 points, with a session-low at 43,224 points.

S&P 500 tumbled 1.6%, or 94 points to 5861 points to 5858 points.

NASDAQ slumped 2.8% to 18,544 points, with a session-low at 18,535 points.