Wall Street finished lower on Thursday as weak economic reports from the US, Europe and Japan suggest further slowing in global growth and  decline in healthcare shares added to the bearish momentum.

The Dow Jones Industrial Average declined 104 points, or 0.4%, to 25,851, the S&P 500 lost 10 points, or 0.35%, to 2,775 and the Nasdaq Composite dropped 29 points, or 0.39%, to 7,460.

The Commerce Department said new orders for key US-made capital goods unexpectedly fell in December, indicating a further slowdown in business spending on equipment that could crimp economic growth.

Concerns about slowing global growth were underscored by the release of surveys from Europe and Japan that showed manufacturing contracting in February.

However, fears about a world-wide slowdown were somewhat tempered by reports that US and Chinese negotiators have started to iron out specific details of a possible trade deal.

The S&P healthcare index slid 0.9%, led by Johnson & Johnson. Adding to the day’s weakness, the S&P 500 energy index fell 1.6%.

Johnson & Johnson declined 0.7% after the healthcare giant said it received subpoenas from US regulators related to litigation involving alleged asbestos contamination in its signature baby powder product line.

Domino’s Pizza shares tumbled 9.1% after it missed analysts’ estimates for quarterly same-store sales.

Nike Inc was down 1% after the company’s sneaker worn by emerging basketball star Zion Williamson split in half during a game.

Tesla Inc. shares slid 3.7% after Consumer Reports withdrew its recommendation of the Model 3 due to “declining reliability.”

Avis Budget Group Inc. shares rallied 17% after the company reported fourth-quarter financial results that showed the car-rental company outpacing expectations.

In Asia, share declined on Friday in morning session following weak US economic data overnight.

The Nikkei 225 in Japan slipped 0.49% in early trade while the Topix declined 0.61%. South Korea's Kospi also shed 0.39%. In Australia, the ASX 200 bucked the trend to trade higher at 0.45%.

In China, the Shanghai Composite Index fell 0.25%, while Hong Kong’s Hang Seng Index declined 0.45%.