Dow snaps historic win streak as US stocks fall amid more earnings results

• US stocks fell as the Dow Jones Industrial Average snapped its 13-day streak on Thursday.
• Treasury yields shot up after second-quarter GDP growth beat expectations.

US stocks dropped on Thursday, and the Dow Jones Industrial Average closed in the red to snap its historic 13-day winning streak.

The 30-company index slid more than 200 points, reversing course from earlier gains in the day that would have matched the longest winning streak in 126 years. Blue chips were weighed down by Honeywell, which sank after reporting mixed earnings. Among other Dow components, JPMorgan fell after regulators unveiled steeper bank capital rules, and Microsoft slipped after the EU opened an antitrust probe.

Treasury yields shot up after second-quarter GDP growth of 2.4% beat expectations. The 10-year yield popped back above 4% as Wall Street sees the Federal Reserve keeping rates high. While Wednesday's rate hike is seen as the last of the tightening cycle, the unexpectedly strong economic growth could delay when rates start coming down.

Meanwhile, Meta Platforms stock jumped after reporting strong earnings and CEO Mark Zuckerberg talked up the potential of its Twitter competitor, Threads.

Here's where US indexes stood as the market closed 4:00 p.m. on Thursday:

• S&P 500: 4,537.46, down 0.64%

• Dow Jones Industrial Average: 35,282.72, down 0.67% (237.40 points)

• Nasdaq Composite: 14,050.11, down 0.55%

Here's what else is going on:

• A top real estate economist just declared that the housing recession is over.
• The "AI gold rush" makes today's stock market look more like the early days of the internet boom than the peak of the dot-com bubble.
• Wharton professor Jeremy Siegel said Fed chief Powell delivered the best news for stocks in over a year.
• The classic 60/40 portfolio isn't dead. Vanguard explained why it's gearing up for a decade of strong returns.
• Alaska has boosted its Nvidia bet 50-fold in recent years.

In commodities, bonds, and crypto:

• Oil prices climbed, with West Texas Intermediate up 1.35% to $79.84 a barrel. Brent crude, the international benchmark, climbed 1.21% to $83.92 a barrel.
• Gold fell 1.29% to $1,944.70 per ounce.
• The 10-year yield jumped 16 basis points to 4.012%.
• Bitcoin dipped 0.66% to $29,165.66.