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U.S. stock benchmarks traded at session lows late-morning Thursday after White House Adviser Larry Kudlow said a "sizable distance" remains between the U.S. and China in protracted trade negotiations. President Donald Trump's national economic council director on Thursday made his comments during an interview with Fox Business Network. Kudlow said previous talks covered "a tremendous amount of ground" but said enforcement will be very important, as well as technological and structural issues. The Dow Jones Industrial Average was trading down 329 points, or 1.3%, at 25,075, the S&P 500 index declined by 1.4% at 2,693, while the Nasdaq Composite Index retreated by 1.6% at 7,258. Longstanding trade disagreements between Beijing and Washington have been among the most crucial headwinds for the stock market in the past several months. Separately, CNBC, citing sources, reported that Trump and Chinese President Xi Jinping were unlikely to meet before a March 1 deadline for tariffs to increase on Chinese goods. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.