US stock markets settled lower on Thursday as financials lagged, while social media company Snap had a strong performance in its initial public offering.

The Dow Jones Industrial Average fell 112.58 points or 0.53 percent to settle at 21,002.97. NASDAQ 100 index lost 27.73 points or 0.51 percent to close at 5,363.26. The broader S&P 500 index fell 14.04 points or 0.59 percent to end at 2,381.92.