U.S. Stocks Close Lower On June Rate-hike Fears

U.S. stocks closed lower Thursday, pressured by fears of a sooner-than-expected Federal Reserve rate hike in June. The Dow Jones Industrial Average closed down 91.22 points, or 0.5%, at 17,435.40, rebounding from a 196-point deficit earlier in the session. The average is up less than 0.1% for 2016, and about 5% off its all-time closing high set on May 19, 2015. The S&P 500 Index finished down 7.59 points, or 0.4%, at 2,040.04, after having been off by as many as 22 points earlier. The index slipped into a slight loss, 0.2%, for the year. The Nasdaq Composite Index fell 26.59 points, or 0.6%, to close at 4,712.53.