Dow Tumbles to 51,349 as Treasury Yields Climb Above 5%

The Dow Jones Industrial Average fell to 51,349.98 on Thursday, down 161.61 points or 0.31% from Wednesday's close of 51,511.59.

The index trimmed a morning slide of more than 380 points after reports of US-Iran talks on reopening the Strait of Hormuz but still underperformed the S&P 500 and Nasdaq.

Rising bond yields weighed heavily on blue-chip stocks, with several high-priced industrial and financial names trading lower. Goldman Sachs and Caterpillar were among those struggling as investors worry about higher borrowing costs slowing capital spending and dealmaking.