The United States markets moved lower this week, despite some positive economic news. Jobless claims fell to 339,000, which was lower than the 370,000 figure that economists forecasted. But instead of a boost, the markets proved to be a bit more skeptical this time around, as the improvement could be attributed to more unemployed giving up on their job search entirely.

Global markets were likely responsible for most of the decline in the U.S. Optimism surround the ECB‘s unlimited debt buying program appears to have waned, while the IMF issued a stern warning that sent markets lower, saying that austerity is not the answer. In Asia, the World Bank didn’t help things either, saying that the region’s economies won’t grow as much as expected.

These concerns about Asian growth and uncertainty in Europe were the primary drivers of this week’s decline in U.S. stocks.