Wall Street ended lower on Monday and wrapped up its worst month since 2012 after comments from a senior Federal Reserve official heightened fears among investors of a potential US interest hike in September.
Fed Vice Chairman Stanley Fischer on Saturday said U.S. inflation would likely rebound as pressure from the dollar fades, allowing the Fed to raise interest rates gradually.
Many analysts took Fischer's comments as a sign the Fed would raise rates in September, instead of December.
That shook investors who were already jumpy after weeks of turbulence caused by concerns about a stumbling Chinese economy.
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