In morning trading, the Dow Jones industrial average, Standard & Poor's 500 index and Nasdaq composite are all down about 0.1%.
Walmart and Facebook stock are taking a pounding, with each down 2.4% or more.
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Investors are reacting to Wednesday's after-the-close news that Facebook will pay $4 billion in cash and $12 billion in stock for WhatsApp, a mobile messaging app that boasts 450 million users. The move follows last year's failed attempt by Facebook to acquire Snapchat for $3 billion.
Before Thursday's opening bell Walmart reported a profit plunge of 21%. Walmart CEO Doug McMillion emphasized that the company's global online sales, including acquisitions, topped $10 billion, a 30% increase over last year.
Walmart U.S. CEO Bill Simon acknowledged dollar store competition in an earnings call early Wednesday.
Hong Kong's Hang Seng index was down 1.1% at 22,415.40 and Japan's Nikkei 225 shed 2.2% to 14,449.18.
European shares declined. Germany's DAX index fell 1.3%.
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Oil prices slipped Thursday after a report indicated manufacturing in China, the world's second biggest economy, shrank again in February.
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Benchmark U.S. crude for March delivery was down 19 cents to $103.12 a barrel at 0720 GMT in electronic trading on the New York Mercantile Exchange. The contract expires Thursday. It rose 88 cents to $103.31 a barrel on Wednesday. The April contract was down 18 cents at $102.66.
Contributing: Associated Press
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