01:31 PM EST, 02/20/2025 (MT Newswires) -- US equity indexes dropped with government bond yields and the dollar in midday trading Thursday as macroeconomic data, deteriorating geopolitical climes, and earnings weighed on risk sentiment.

The Nasdaq Composite and the S&P 500 each fell 0.8% to 19,906.2 and 6,096.4, respectively, while the Dow Jones Industrial Average was 1.4% lower at 44,000.1. Financials, consumer discretionary, and industrials led the decliners, with healthcare and energy among the trio of sectors in the green intraday.

In economic news, US initial jobless claims rose to 219,000 during the week ended Feb. 15 from an upwardly revised 214,000 prior week, the US Labor Department said Thursday. The expectations were for 215,000 in a survey compiled by Bloomberg.

Including continuing claims, the data are "consistent with a labor market that can withstand a Fed on hold as it assesses progress on inflation," Nancy Vanden Houten, Lead US Economist at Oxford Economics, said in a note.

Discussions with business contacts show possible tariffs and changes to immigration policy as sources of uncertainty that could shift inflation and employment, Atlanta Federal Reserve Bank President Raphael Bostic said in an essay published on the Atlanta Fed's website.

"In recent weeks, we've heard not only enthusiasm -- particularly from banks, about possible shifts in tax and regulatory policies -- but also widespread apprehension about future trade and immigration policy," Bostic wrote. "These crosscurrents inject still more complexity into policymaking. In a nutshell, contacts are concerned that tariffs could increase costs. Many feel confident that if that happens, then they can pass along higher costs in their prices."

Most US Treasury yields fell, with the 10-year down 2.8 basis points to 4.51% and the two-year less than one basis point lower at 4.27%.

Further, in economic news, the Conference Board's measure of leading indicators fell 0.3% in January, below expectations for a 0.1% decrease in a survey compiled by Bloomberg and following an upwardly revised 0.1% increase in December.

The Philadelphia Federal Reserve's monthly manufacturing index fell to 18.1 in February from 44.3 in January, compared with expectations for 14.3 in a survey compiled by Bloomberg.

A staggering collapse in American support for Ukraine in the past week has blindsided Europe's leaders and officials, CNN reported, adding that many still cannot understand the reason why President Donald Trump has turned so furiously on Ukraine's leader, Volodymyr Zelensky.

The dollar depreciated 1.3% against the Japanese yen to 149.5.

Gold futures advanced 0.7% to $2,957.10, and their silver counterparts jumped 1.4% to $33.52.

In company news, Walmart ( WMT ) slumped 6.5% intraday, the biggest laggard on the Dow, after the company released Q1 and fiscal 2026 adjusted-earnings guidance below the average analyst estimates compiled by FactSet.

EPAM Systems ( EPAM ) sank past 13% intraday, the worst performer on the S&P 500 after the company posted Q1 and 2025 non-GAAP EPS guidance that trailed FactSet analyst estimates.

Palantir Technologies (PLTR) dropped 8.5% intraday, among the steepest decliners on the S&P 500 and the Nasdaq, after closing 10% lower on Wednesday amid a report that the Pentagon intends to slash military spending.

West Texas Intermediate crude oil futures surged 0.9% to $72.89 a barrel.