Oil Soars, Dow Tumbles 115

Stocks fall broadly except in energy shares
By Newser Editors and Wire Services
Posted Aug 31, 2015 3:27 PM CDT
Oil Soars, Dow Tumbles 115
Trader Gregory Rowe, left, talks to specialist Neil Gallagher as they work on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew)

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. (More money stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.