12:09 PM EDT, 05/30/2024 (MT Newswires) -- US benchmark stock indexes fell after midday Thursday as investors weighed the second estimate for Q1 economic growth alongside weekly jobless claims.

The Nasdaq Composite fell 0.5% to 16,831.2, the S&P 500 was down 0.4% to 5,248.2, and the Dow Jones Industrial Average slid 1% to 38,097.3. All sectors, except technology and communication services, were in the red intraday. Real estate led the gainers.

In economic news, US gross domestic product growth in Q1 was revised to 1.3% from a 1.6% increase in the advance estimate, in line with the 1.3% gain anticipated in a survey compiled by Bloomberg. GDP rose 3.4% in Q4.

US initial jobless claims rose to 219,000 in the week ended May 25 from an upwardly revised 216,000 in the previous week, compared with expectations for 217,000 in a survey of analysts compiled by Bloomberg. The four-week moving average increased to 222,500 from 220,000.

Pending home sales fell 7.7% in April, versus the 1% slide expected in a survey compiled by Bloomberg and following a 3.6% increase in March, the National Association of Realtors said. The monthly sales index was down 7.4% from April 2023.

The US 10-year Treasury yield slumped 7.6 basis points to 4.55%, retreating from its highest level in about a month. The two-year yield dropped six basis points to 4.93% after touching the 5% mark on Wednesday.

In company news, Salesforce ( CRM ) shares sank 20%, the steepest decliner on the S&P 500 and the Dow, after the tech giant's fiscal Q2 guidance trailed the average analyst estimate compiled by Capital IQ.

Best Buy's ( BBY ) fiscal Q1 earnings grew more than the market forecast, and its guidance for fiscal 2025 was in line with analysts' expectations. Shares climbed more than 11% intraday, the second-biggest gainer on the S&P 500.

West Texas Intermediate crude oil fell 0.8% to $78.63 a barrel.