U.S. stocks close lower as rate cut optimism dampened

NEW YORK, May 23 (Xinhua) -- U.S. stocks ended lower on Thursday, as investors reassessed the likelihood of a rate cut in September after stronger-than-expected economic data.

The Dow Jones Industrial Average fell by 605.78 points, or 1.53 percent, to 39,065.26, notching its worst day of the year. The S&P 500 sank 39.17 points, or 0.74 percent, to 5,267.84. The Nasdaq Composite Index shed 65.51 points, or 0.39 p