Japan’s Nikkei 225 bucked the trend, however, its 1 percent rally driven by the yen’s fall to a one-month low.
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Investors remained focused, however, on USA non-farm payrolls data due on Friday, which could provide clues on the timing of the next Fed rate increase.
The S&P 500 is up 7.08 points, or 0.3 percent.
A report from the Institute of Supply Management showed US factory activity contracted for the first time in six months in August as new orders and production tumbled, but data on the labor market pointed to a pickup in third-quarter economic growth.
The Standard and Poor’s 500 lost 4.26 points, or 0.2 percent, to 2,176.12.
The Nasdaq Composite was up 13.39 points, or 0.26 per cent, at 5,226.61.
Compounded by soft production data and continued pressure on oil, the Dow Jones Industrial Average and S&P 500 dropped to their lowest level in almost a month, with four straight days of lower lows and lower highs.
Futures for USA markets were mixed late Tuesday as investors shrugged off falling oil prices during the regular session and fears of a September rate increase.
Wall Street closed lower on Wednesday, with the S&P turning slightly negative for August, as weak oil prices weighed on energy stocks.
The stress on data has become especially apparent after Federal Reserve Chair Janet Yellen said last week that solid performance in the labor market has strengthened the case for an interest rate hike. Schlumberger declined $1.68, or 2.1 percent, to $78.96.
If the number comes in strong, or around or above the 180,000 jobs economists’ forecast, it could boost the odds of a Fed rate hike at the central bank’s September 20-21 meeting.
Spot gold (XAU=) edged up 0.3 percent to $1,313 an ounce after tumbling to as low as $1,308.65 on Tuesday, its lowest since late June, pressured by the stronger dollar and growing expectations of higher US rates.
The Nasdaq is up 8.29 points, or 0.2 percent.
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Yields on USA two-year Treasuries US2YT=RR , which are more sensitive than longer-dated maturities to expectations about the timing of Fed rate increases, rose 14 basis points for August. Prices still posted their biggest monthly rise since April, with Brent gaining 11 percent. The yield on the 10-year Treasury note dipped to 1.56 percent from 1.57 percent. On the Nasdaq, 1,421 issues fell and 1,269 advanced.
