Stocks Opened Lower, Dow Fell over 200 Points

U.S. stocks opened lower on Thursday, after the European Central bank slashed its growth forecasts and pledged continued monetary support for its flagging economy. The Dow Jones Industrial Average lately fell 236.34 points, or 0.92%, to 25,437.12. The S&P 500 was down 23.27 points, or 0.84%, to 2,748.18. The Nasdaq Composite declined 77.77 points, or 1.04%, to 7,428.15.

U.S. benchmark oil prices snapped back with gains Thursday, a day after a decline had followed a reported hefty weekly rise in domestic crude inventories. West Texas Intermediate crude for April delivery was up 66 cents, or 1.2%, at $56.88 a barrel. May Brent rose 83 cents, or 0.2%, to $65.99 a barrel.

The number of people who applied for unemployment benefits in early March fell slightly. Jobless claims fell by 3,000 to 223,000 in the seven days ended March 2, the government said Thursday.