U.S. stocks close lower as debt ceiling deadline nears

NEW YORK, May 24 (Xinhua) -- U.S. stocks extended losses on Wednesday as the debt ceiling deadlock continued, heightening worries of a catastrophic U.S. default.

The Dow Jones Industrial Average fell 255.59 points, or 0.77 percent, to 32,799.92. The S&P 500 sank 30.34 points, or 0.73 percent, to 4,115.24. The Nasdaq Composite Index shed 76.08 points, or 0.61 percent, to 12,484.16.