US STOCKS-Wall Street closes lower as oil price

U.S. stocks weakened on Monday, with Wall Street turning the page on a volatile month as a war-related jump in crude prices revived inflation fears and raised the likelihood of tighter monetary policy.



Spiking oil prices dampened investor risk appetite and sent benchmark U.S. Treasury yields higher, as investors processed U.S. Federal Reserve Chair Kevin Warsh's hawkish tone on Friday in his speech at the Jackson Hole Symposium.



Despite the broad sell-off, all three major U.S. stock indexes posted monthly gains.



The Nasdaq showed the largest percentage growth for August as the AI trade remained alive, despite recent weakness.



The blue-chip Dow nabbed its fifth consecutive monthly advance.