U.S. stocks ended lower on Thursday as investors continued to sift through the rising Treasury yields.

The Dow Jones Industrial Average lost 54.95 points, or 0.22 percent, to 24,713.98. The S&P 500 erased 2.33 points, or 0.09 percent, to 2,720.13. The Nasdaq Composite Index was down 15.82 points, or 0.21 percent, to 7,382.47.

The benchmark 10-year Treasury yield climbed over 3.1 percent on Thursday, the first time since 2011, while the two-year yield hovered around its highest levels in a decade.

The yield, a barometer for mortgage rates and other financial instruments, has jumped recently amid market fears of rising inflation, which sparked investors' speculation for more rate-hikes later this year.

The probability that the U.S. central bank will raise its benchmark rate a fourth time this year went up to a record of 51.9 percent on Thursday, according to the Chicago Mercantile Exchange's FedWatch tool.

In corporate news, U.S. multinational company Cisco Systems, Inc. reported weaker-than-expected sales for its key services business on Wednesday after market closing. Shares of the company ended 3.76 percent lower on Thursday, the worst performer on the Dow.