The stock market is closing out its worst month in more than three years on a down note. Stocks fell broadly in today's trading, with the exception of energy shares, which reversed an early slump after the price of crude oil surged. The Standard & Poor's 500 index ended August down 6.3%, its worst showing since May 2012. Investors have been worried about slowing growth in China and elsewhere and looming interest rate hikes in the US.
The Dow Jones industrial average fell 115 points, or 0.7%, to 16,528. The S&P 500 fell 17 points, or 0.8%, to 1,972. The Nasdaq composite slid 52 points, or 1.1%, to 4,776. Oil surged 9% on news that US production has been lower than estimated.