US Stocks End a Turbulent Month on a Down Note: Markets Wrap
- Treasuries were little changed after earlier paring declines
- Sentiment is cautious given Fed is tightening aggressively
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US stocks and bonds ended a turbulent August lower as traders recalibrated rate-hike expectations after central banks across the globe vowed to step up their fights against inflation.
All major US indexes had their worst month since June. Treasuries in August faced their biggest monthly loss since April as the Federal Reserve resolved to stay hawkish. Oil posted a third monthly drop -- the longest losing streak in more than two years -- hampered by the likelihood of slower global growth.