US stocks drop in early trading after disappointing data

US stock indices opened lower on Thursday, after the release of disappointing economic data.

The initial unemployment claims in the US fell to 861,000 last week, worse than forecasts of 775,000.

The markets are focused on the ongoing discussions between the White House and the US Congress over President Joe Biden's $1.9 trillion Covid-19 relief plan.

As of 14:58 GMT, Dow Jones fell 0.9% or 275 points to 31,338, Nasdaq fell 1.4% or 193 points to 13,772, and S&P 500 fell 0.9% or 37 points to 3,893.