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The Dow Jones Industrial Average on Thursday was facing a decline of more than 300 points, putting the blue-chip gauge on pace for its steepest one-day decline since early January. Worries about weakened growth in Europe and headlines pointing to challenges in negotiations between the U.S. and China were among the headwinds pushing equity benchmarks lower. The Dow was down 380 points, or 1.35, at 25,007, which would represent its largest daily decline, if it holds, since a 660-point plunge on Jan. 3, according to FactSet data. Stocks took a leg lower late-morning after White House Adviser Larry Kudlow on Fox Business said a sizable distance remains between China and the U.S. as they hash over a trade resolution. Separately, CNBC reported that President Donald Trump and China President Xi Jinping may not meet face-to-face before a March 1 trade deadline, further rattling market optimism that a trade pact can be achieved soon. Trade concerns have been among the most significant headwinds for markets in recent months. For the S&P 500 index and Nasdaq Composite Index , Thursday's decline would only represent the worst decline since Jan. 22. 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.