Stocks Ended Lower, Dow Lost More Than 500 Points

U.S. stocks extended losses to end lower on Thursday, with the Dow Jones Industrial Average losing more than 500 points, as investors continued to fret over rising bond yields and the prospect of higher interest rates. The Dow Jones Industrial Average tumbled 545.91 points, or 2.13%, to 25,052.83. The S&P 500 slipped 57.31 points, or 2.06%, to 2,728.37. The Nasdaq Composite fell 92.99 points, or 1.25%, to 7,329.06.

Oil futures dropped Thursday to log their lowest settlement month to date, after a report revealed a third-weekly rise in U.S. crude supplies. November West Texas Intermediate crude fell $2.20, or 3%, to settle at $70.97 a barrel. Brent crude for December delivery lost $2.83, or 3.4%, to $80.26 a barrel.

Tencent Music Entertainment Group will postpone its highly anticipated initial public offering because of the recent sell-off, The Wall Street Journal reported Thursday citing people familiar with the deal.