US stocks opened lower on Thursday as worries over a global slowdown were rekindled after the European Union cut its economic growth forecasts, while a slew of dismal quarterly reports also added to woes.

The Dow Jones Industrial Average fell 124.49 points, or 0.49%, at the open to 25,265.81.

The S&P 500 opened lower by 14.08 points, or 0.52%, at 2,717.53. The Nasdaq Composite dropped 58.78 points, or 0.80%, to 7,316.50 at the opening bell.