Dow ends down 250 points Thursday as stocks surrender gains

U.S. stocks closed lower on Thursday, booking back-to-back losses as investors monitored the toll of higher interest rates on corporate earnings and on consumer spending. The Dow Jones Industrial Average
DJIA,
-0.73%
fell about 249 points, or 0.7%, ending near 33,699. The S&P 500 index
SPX,
-0.88%
shed 0.9%, and the Nasdaq Composite Index
COMP,
-1.02%
lost 1%. The three major indexes finished lower for a second straight session, putting them on pace for weekly losses, according to FactSet data. Optimism around Walt Disney Co.’s
DIS,
-1.27%
rosier earnings helped give an initial lift to stocks on Thursday, including as after it reported resilience in its theme park business. But bullishness faded in afternoon trade and bond yields rose. The benchmark 10-year Treasury rate
TMUBMUSD10Y,
3.662%
was last at 3.682%, the highest since Jan. 5, according to Dow Jones Market Data.