Wall Street equities traded with losses at the closing bell on Thursday, ending a turbulent day of trading, dominated by the long-expected call between United States President Donald Trump and his Chinese colleague Xi Jinping, with investors paying close attention to a prospective thaw in US-China relations.

At the same time, a worsening row between Trump and his former ally and billionaire entrepreneur Elon Musk sent Tesla's stock tumbling over 12% after the two traded accusations and Trump mentioned the possibility of cutting the billionaire's government contracts.

The Dow Jones slumped 0.25% with Procter and Gamble Co losing 1.90%. The Nasdaq 100 shed 0.8% after Tesla nosedived 14.27%, losing some $152 billion in value and going below the $1 trillion threshold. The S&P decreased 0.53% as Brown Forman crashed 17.92%.

Meanwhile, the euro advanced 0.16% compared to the dollar at 3:58 pm ET to $1.14387.