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NEW YORK (CNNMoney)
The Dow and S&P 500 are now in negative territory after their record highs. The Nasdaq also fell.
US markets have been on a roll this week. On Wednesday, the S&P 500 closed at a new high, it's eighth of the year. But the question remains as to whether this momentum will continue.
Investors are keeping an eye on U.S. jobs and Europe's economy. The big March unemployment report is due tomorrow, but there was modestly good news yesterday from the ADP release, and the Labor Department will share the latest figures on jobless claims today.
Across the pond, the European Central Bank said it will keep its key interest rate unchanged at 0.25%, as widely expected. But the central bank is facing growing pressure to do more to stimulate the Eurozone economy as risks of deflation rise and the euro remains stronger than some would prefer.
ECB President Mario Draghi tried to use words to calm the markets. He affirmed in a press conference the bank's commitment to keep inflation at a healthy level, but he didn't announce any new measures to prop up the economy.
Still, he said said the ECB's governing body is considering a quantitative easing strategy similar to that deployed by the Federal Reserve.
European markets were mixed in afternoon trading following the announcement.
Related: Fear & Greed Index in neutral mode
In corporate news, newly issued Google shares started trading Thursday as a result of the tech giant's long-anticipated 2-for-1 stock split. The new class C shares, which trade under the original "GOOG," symbol and have no voting rights, rose in morning trading. Old Google class A shares, which retained their voting rights and trade under the new symbol, "GOOGL," were also up.
Shares of both classes of Google began trading at around $570 -- roughly half the value of Wednesday's closing price, but the A shares are trading slightly higher, as expected.
Related: Google's (share) class divide
Barnes and Noble (BKS, Fortune 500) plunged almost 10% after one of its largest shareholders, Liberty Media Corporation (LMCA), announced that is reducing its stake in the struggling book seller. Barnes and Noble has bounced back over 30% this year after being one of the worst performers in the S&P 500 in 2013.
Shares of Pandora (P) popped after the internet radio service released figures showing notable jumps in its number of active listeners in March. The number of hours listened for the month also rose.
Netflix (NFLX)continued its slide Thursday. After a huge run, shares of the entertainment site have pulled back about 20% in the past month as the company faces growing concerns about its high valuation and increasing competition.
Yelp (YELP) shares ticked downward after falling more than 5% Wednesday after the Wall Street Journal reported that the review site receives around six subpoenas each month, often relating to business owners suing the company.
Related: CNNMoney's Tech 30
Asian markets ended mixed, shrugging off news of a mini-stimulus package in China. After an initial boost, the Shanghai Composite closed 0.7% lower. Hong Kong's Hang Seng finished narrowly firmer. 
First Published: April 3, 2014: 10:06 AM ET
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