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YORK Kirk Hinrich Bulls Jersey , July 10 (Xinhua) -- U.S. stocks ended lower Thursday after paring steep losses earlier in the day, as renewed worries over one of the top Portugal banks spooked investors.


The Dow Jones Industrial Average lost 70.54 points, or 0.42 percent, to 16,915.07. The S&P 500 fell 8.15 points, or 0.41 percent, to 1 John Paxson Bulls Jersey ,964.68. The Nasdaq Composite Index dropped 22.83 points, or 0.52 percent, to 4,396.20.


The dip came after major stock indices in Europe closed down sharply Thursday as investors jittered over Banco Espirito Santo, a leading Portuguese lender, which delayed payments on short-term debt.


The bank worries offered an excuse for investors to take money off the table when major U.S. equity indices neared record highs.


However, the market recovered part of earlier losses in later trading session Joffrey Lauvergne Bulls Jersey , as investors were reassured by a pair of positive U.S. economic data which showed that the world's largest economy remained on track.


In the week ending July 5, the advance figure for seasonally adjusted initial claims was 304,000, a more-than-expected decrease of 11,000 from the previous week, the U.S. Labor Department said Thursday. The four-week moving average, a smoother gauge Jimmy Butler Bulls Jersey , was 311, 500, down 3,500 from the prior week.


Meanwhile, U.S. wholesale inventories, a key component of gross domestic product (GDP) changes, rose 0.5 percent in May from April Jerian Grant Bulls Jersey , slightly lower than market consensus, but still signaling a pickup in momentum for the U.S. economy in the second quarter of this year.


The U.S. GDP contracted 2.9 percent unexpectedly in the first quarter with abnormally cold weather to blame in a large part.


Investors were also paying close attention to the new earnings season from which investors would garner any clues about how U.S. companies had been faring in the second quarter.


According to Thomson Reuters IBES, so far roughly 5 percent of the S&P 500 companies, or 23 companies, have reported results in the second quarter, of which 65.2 percent beat analyst expectations on earnings side while 69.6 percent surpassed market consensus on revenues side.


On the previous trading day, Wall Street added earlier gains Isaiah Canaan Bulls Jersey , recovering from a two-day drop, as the Federal Reserve's minutes of its latest policy meeting gave no surprise to the market.


The CBOE Volatility Index, often referred to as Wall Street's fear gauge, soared 8.07 percent