Nasdaq Composite Index: +0.44% or +60.07 points to 13,814.38

Stocks slipped lower Thursday as investors continue to monitor the war in Ukraine. The Dow Jones Industrial Average was down nearly 100 points, while the S&P 500 Index and Nasdaq Composite slipped 0.5% and 1.5% deeper into the red, respectively.

JPMorgan (JPM  ) said Thursday it expects Russia's economy to come to a virtual halt due to global sanctions against the country for its invasion of Ukraine. The firm expects Russia's GDP to contract by 35% in the second quarter of 2022 and 7% for the full year, in a slowdown comparable to the financial crisis of 2008.

Here's how the market settled on Thursday:

S&P 500 Index (SPY  ): -0.52% or -23.00 points to 4,363.54

Dow Jones Industrial Average (DIA  ): -0.29% or -96.86 points to 33,794.49

Nasdaq Composite Index (QQQ  ): -1.56% or -214.07 points to 13,537.94

Sabre cuts ties with Russia's Aeroflot:

Sabre Corp. (SABR  ) announced Thursday it terminated a global distribution agreement with Russia's Aeroflot, halting the country's largest airline's ability to sell tickets.

Sabre's, which provides ticket distribution and reservation services for global carriers, move to end the distribution agreement means Aeroflot's flight will not show up on online travel agencies or other third-party sites.

"Sabre has been monitoring the evolving situation in Ukraine with increasing concern," CEO Sean Menke said in a statement. "We are taking a stand against this military conflict. We are complying, and will continue to comply, with sanctions imposed against Russia."

U.S. service sector expansion decelerates last month:

U.S. service sector activity unexpectedly fell in February as employment levels contracted for the first time in eight months.

The Institute for Supply Management's February Services index slipped lower to 56.5 from January's 59.9, according to the firm's report published Thursday, far below expectations for a reading of 61.1. Readings above the neutral level of 50.0 indicate expansion in a sector.

"Respondents continue to be impacted by supply chain disruptions, capacity constraints, inflation, logistical challenges and labor shortages," said Anthony Nieves, chief of the ISM, in a press statement. "These conditions have affected the ability of panelists' business to meet demand, leading to a cooling in business activity and economic growth."

New jobless claims fall to lower level since December:

New unemployment claims reached their lowest level since the end of December last week, as the labor market continues to improve as Omicron infections drop in the United States.

Initial jobless claims totaled 215,000 for the week ended Feb. 25, according to the Labor Department's latest report published Thursday, marking the lowest level since the week ended Dec. 31. The print was also down from the previous week's upwardly revised total of 233,000.

Continuing jobless claims, however, came in slightly higher than expected for the week ended Feb. 19, totaling 1.476 million. The print also was relatively flat week-over-week.

Here's how benchmarks started trading soon after opening bell:

S&P 500 Index: +0.53% or +23.16 points to 4,409.70

Dow Jones Industrial Average: +0.67% or +226.65 points to 34,118.00