NEW YORK, New York - U.S. stocks continued lower on Thursday as Treasury yields slid further, with the 30-year bond yield approaching 5.50 percent, a level not seen since 2004.

"The economy continues to show remarkable resilience, but that strength is keeping inflation concerns alive and pushing interest rates higher," Jason Stephens, founder of Evertern Wealth told CNBC Thursday. "The bond market may be the most important market to watch right now."

The bigger issue, said Stephens, is not whether the Fed raises interest rates again but rather "how long rates remain elevated and what a 10-year Treasury above 5 percent eventually does to housing, corporate borrowing, private markets, and equity valuations."

S&P 500 Nearly Flat

The Standard and Poor's 500 closed at 7,704.36, down 1.67 points or 0.02 percent, on volume of 2.831B. The benchmark index traded between a low of 7,662.57 and a high of 7,719.01 during the session, against a 52-week range of 6,316.91 to 7,816.70.

Dow Retreats

The Dow Jones Industrial Average fell to 51,350.28, losing 161.31 points or 0.31 percent, on volume of 383.333M. The blue-chip index ranged from 51,124.02 to 51,485.97 on the day, within a broader 52-week band of 45,057.28 to 54,744.33.

Nasdaq Ekes Out a Gain

The NASDAQ Composite edged higher to 26,939.37, up 3.34 points or 0.01 percent, on volume of 6.374B. The tech-heavy index traded between 26,706.14 and 26,971.04 during the session, against a 52-week range of 20,690.25 to 27,288.79.

Summary

Thursday's U.S. session ended with little overall direction, as the Nasdaq's marginal 0.01 percent gain offset weakness elsewhere. The S&P 500 was essentially unchanged with a 0.02 percent dip, and the Dow led declines at 0.31 percent. Trading volumes were heaviest in Nasdaq-listed shares, while the Dow's pullback weighed on the broader blue-chip tone.

U.S. Dollar Strengthens Further Against Major Currencies Thursday as Euro, Yen, Pound, Aussie, Loonie and Swissie All Weaken

The U.S. dollar was firmer against all of its major counterparts on Thursday, with most currency pairs showing the greenback gaining ground as traders positioned for a broadly stronger dollar.

Euro Edges Lower

The euro slipped against the dollar, with EUR-USD falling to 1.1375, a move of 0.06 percent. The single currency's modest decline came amid quiet European trading conditions, though the euro held relatively close to recent levels despite the broader dollar bid.

Yen Weakens Further

The Japanese yen weakened further to USD-JPY 158.8700, a change of 0.35 percent. The pair's move extended the yen's softer tone, with the dollar buying nearly 159 yen by Thursday's close.

Sterling Slips

The British pound also fell against the dollar on Thursday, with GBP-USD last trading at 1.3217, down 0.17 percent. Sterling's decline kept it above the 1.32 mark but left it on the back foot as the dollar strengthened.

Aussie Drops Most Among Commodity Currencies

The Australian dollar posted the largest decline among the majors, with AUD-USD sliding to 0.7013, a drop of 0.37 percent. The Aussie's fall pushed it just above the 0.70 level, reflecting the broader risk-off tone in currency markets.

Loonie and Swissie Also Softer

The Canadian dollar weakened against its U.S. counterpart, with USD-CAD at 1.4139, up 0.26 percent. Meanwhile, the Swiss franc also lost ground, with USD-CHF at 0.8281, a rise of 0.35 percent for the dollar.

Summary

Thursday's foreign exchange session saw the U.S. dollar strengthen against every major currency. The Australian dollar led declines with a 0.37 percent drop, matched by the Swiss franc's 0.35 percent move, while the Japanese yen also fell 0.35 percent. The euro's 0.06 percent decline was the smallest move of the session, with the pound down 0.17 percent and the Canadian dollar off 0.26 percent. The uniform direction underscored a session of broad-based dollar demand.

Global Markets Close Mostly Lower Thursday as Asia, Europe Retreat; Tokyo and Seoul Buck the Trend

World stock markets finished Thursday's session predominantly in negative territory, with broad-based selling pressure across Europe and most of Asia, though Japanese and South Korean indexes managed modest gains.

Canada Slides

In Toronto, the S&P/TSX Composite index closed at 35,706.46, down 44.97 points or 0.13 percent, on volume of 260.554M. The Canadian benchmark ranged from 35,538.07 to 35,764.04 on the day, within a 52-week band of 29,530.90 to 37,069.10.

UK and Europe Ends Lower

In London, the FTSE 100 closed at 10,679.99, down 25.27 points or 0.24 percent, after trading between a low of 10,666.91 and a high of 10,741.11. The index's 52-week range stands at 9,203.20 to 10,989.50.

Germany's DAX P fell to 25,266.53, losing 144.10 points or 0.57 percent. The index moved between 25,164.20 and 25,424.21 on the day, against a yearly range of 21,863.81 to 26,618.74.

The CAC 40 in Paris slipped to 8,081.43, down 41.98 points or 0.52 percent, having traded between 8,049.56 and 8,123.11. Its 52-week low and high stand at 7,505.27 and 8,755.03.

The EURO STOXX 50 I closed at 6,272.50, off 27.32 points or 0.43 percent. It ranged from 6,250.06 to 6,304.87 during the session, within a broader 52-week band of 5,376.81 to 6,577.20.

The Euronext 100 Index ended at 1,889.88, down 7.55 points or 0.40 percent, after trading between 1,886.13 and 1,900.12. Its annual range is 1,630.02 to 1,984.60.

In Brussels, the BEL 20 closed at 5,671.16, down 15.97 points or 0.28 percent. The index's session high was 5,715.68, with a 52-week range of 4,631.38 to 5,905.83.

Asia Mixed

The SSE Composite Index in Shanghai closed at 3,888.37, down 48.15 points or 1.22 percent, on volume of 903.368M. It traded between 3,888.37 and 3,930.50, against a yearly range of 3,741.11 to 4,258.86.

Japan's Nikkei 225 was the strongest major gainer, rising to 65,513.99, up 495.04 points or 0.76 percent. The index ranged from 65,407.37 to 66,249.11 during the session, within a 52-week range of 44,357.65 to 72,831.73.

Hong Kong's HANG SENG INDEX finished at 24,761.13, down 72.99 points or 0.29 percent, after moving between 24,648.29 and 24,791.20. Its 52-week range is 22,518.00 to 28,056.10.

Singapore's STI Index closed at 5,683.37, down 26.54 points or 0.46 percent, trading between 5,677.91 and 5,713.62, against a yearly range of 4,264.99 to 5,828.50.

In Australia, the S&P/ASX 200 [XJO] fell to 8,702.00, down 63.30 points or 0.72 percent, with a session range of 8,645.70 to 8,765.30 and a 52-week range of 8,262.40 to 9,296.70. The ALL ORDINARIES [XAO] closed at 8,897.00, down 59.20 points or 0.66 percent, after trading between 8,837.70 and 8,956.20, within a yearly band of 8,454.90 to 9,474.80.

India's S&P BSE SENSEX dropped to 73,580.54, down 1,247.71 points or 1.67 percent. The index traded between 73,563.92 and 74,362.29 on the day, against a 52-week range of 71,545.81 to 86,159.02.

In Indonesia on Thursday, the IDX COMPOSITE closed at 6,298.61, down 76.31 points or 1.20 percent, having ranged from 6,287.46 to 6,368.57. Its annual range is 5,317.91 to 9,174.47.

The FTSE Bursa Malaysia KLCI ended at 1,672.31, down 4.12 points or 0.25 percent, after trading between 1,671.48 and 1,679.47, within a 52-week band of 1,595.04 to 1,771.25.

Gainers in the Region

New Zealand's S&P/NZX 50 INDEX GROSS edged higher to 13,824.83, up 3.07 points or 0.02 percent. The index ranged from 13,708.78 to 13,857.48 during the session, against a yearly range of 12,689.78 to 14,069.22.

In South Korea, the KOSPI Composite Index was a standout gainer, closing at 7,080.92, up 63.01 points or 0.90 percent on volume of 236,996. It traded between 7,014.98 and 7,153.99, within a 52-week range of 3,365.73 to 9,385.59.

Taiwan's TSEC CAPITALIZATION WEIGHTED ST slipped to 48,024.60, down 132.69 points or 0.28 percent, after ranging from 47,754.72 to 48,117.54. Its annual range is 25,469.04 to 48,601.53.

Other Markets

Israel's TA-125 fell to 4,100.40, down 57.83 points or 1.39 percent, trading between 4,086.14 and 4,124.35, against a 52-week range of 3,056.22 to 4,588.51.

In Egypt, the EGX 30 Price Return Index closed at 53,776.70, down 448.20 points or 0.83 percent, on volume of 289.98M. The index's session range matched its yearly range at 52,793.20 to 54,287.20.

South Africa's Top 40 USD Net TRI Index dropped to 6,814.95, down 178.16 points or 2.55 percent, after trading between 6,785.18 and 7,009.38, within a 52-week band of 6,060.13 to 8,184.71.

Summary

Thursday's trading reflected a cautious global mood, with European benchmarks all finishing in the red and most Asian indexes following suit. The notable exceptions were the Nikkei 225 and KOSPI Composite Index, which posted solid gains, and New Zealand's NZX 50, which eked out a marginal advance.

(This report incorporates quotes retrieved with the assistance of artificial intelligence).

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