Stocks end lower, capping off a weak August; traders weigh disappointing consumer spending

8/30/2013

NEW YORK — Stocks closed slightly lower today, ending the worst month for the market in more than a year.

The Dow Jones industrial average fell 30 points, or 0.2 percent, to close at 14,810.31 today.

The broader Standard & Poor’s 500 index fell five points, or 0.3 percent, to 1,632.97. The Nasdaq composite fell 30 points, or 0.8 percent, to 3,589.87

The market’s reaction to speeches from Secretary of State John Kerry and President Obama about Syria was muted.

Traders also digested a report from the U.S. Commerce Department that showed Americans’ income and spending barely rose in July.

The S&P 500 fell 3.1 percent in August, its biggest decline since May 2012, when it fell 6.3 percent. However, the index is up 15 percent for the year.