US stocks extended losses on Thursday, with the Dow Jones Industrial Average shedding nearly half of its more than 1,000 point gain notched in the previous session after data showed consumer confidence in December fell to its lowest level since July.

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At 10:31 a.m. EDT the Dow Jones Industrial Average was down 508.11 points, or 2.22 percent, at 22,370.34, the S&P 500 was down 52.86 points, or 2.14 percent, at 2,414.84 and the Nasdaq Composite was down 155.05 points, or 2.37 percent, at 6,399.31.