(CNBC) -- Stocks fell for a fourth straight day on Wednesday, the last day of August, putting the summer market comeback in doubt as investors weighed the Federal Reserve’s inflation-fighting efforts.
The Dow Jones Industrial Average slid 144 points, or 0.5%, to 31,576.40. The S&P 500 lost 0.3% to end the day at 3,963.57, and the Nasdaq Composite fell 0.3% to 11,843.52. The major averages were higher earlier in the day.
What began as a strong month for the three major averages ended on a weaker note. The Dow finished August down 4%, while the S&P and Nasdaq posted monthly losses of 4.1% and 4.5%, respectively.
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