Wall Street tumbles after GDP contraction data

US stock indices declined on Thursday after negative data showed a contraction in the world's largest economy. 

US GDP shrank 0.6% in the second quarter according the final reading, matching estimates and the preliminary reading, and adding to the 1.6% contraction in the first quarter.

US unemployment claims fell to 193 thousand in the week ending September 24, the lowest since April, and beating estimates of 215 thousand, while lower from the previous reading's revised 209 thousand reading.

Dow Jones fell 2%, or 602 points to 29,081, while S&P 500 fell 2.6%, or 96 points to 3,623, while NASDAQ tumbled 3.4%, or 375 points to 10,673.