Markets saw another dizzying pullback during the second half of Thursday's session, walking back on what was promising to be the Dow's best single-day session since mid-December. Instead, the blue-chip index finished the day with a paltry 7-point drop. Meanwhile, the S&P 500 and the Nasdaq closed in the red, with the latter notching its lowest settlement since May 19. The Cboe Volatility Index (VIX) -- Wall Street's fear gauge -- also settled lower today, snapping a six-day win streak. 

Investors continued to mull over yesterday's remarks from the Federal Reserve, which pointed to an interest rate hike as soon as this March. Meanwhile, today's fourth-quarter gross domestic product (GDP) jump ultimately did little to assuage markets. The GDP reading rose 6.9% since last year, topping economists' estimates.

The Dow Jones Average (DJI - 34,160.78) shed 7.3 points or 0.02% for the day. Dow Inc (DOW) led the gainers today, adding 5.2%, and Intel (INTC) paced the laggards with a 7% drop. 

The S&P 500 Index (SPX - 4,326.51) moved 23.4 points lower, or 0.5%, while the Nasdaq Composite (IXIC - 13,352.78) lost 189.3 points, or 1.4%, for today's session. 

Lastly, the CBOE Volatility Index (VIX - 30.59) shed 1.4 points or 4.3% for the day.

OIL, GOLD FALL LOWER

Oil cooled from yesterday's multi-year highs as traders continued to monitor the Russia-Ukraine conflict. March-dated oil lost 74 cents, or nearly 0.9%, to settle at $86.61 per barrel.

The Federal Reserve's hints that a rate hike might be on the way helped strengthen the U.S. dollar, and in turn, weakened gold prices even further. Data showing the U.S. economy expanded 6.9% in the fourth quarter also weighed on the precious metal. February-dated gold dropped $36.60, or 2%, to close at $1,793.10 per ounce, marking its first settlement below the $1,800 mark since Jan. 10.