You can now read 10 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe

Business

Snapshot: August starts on high note, ends low

Continue reading below

Disappointing news on consumer spending helped pull stocks lower Friday in a quiet end to the market’s worst month in more than a year. The S&P 500 closed August with a loss of 3.1 percent while the Dow lost 4.4 percent. Both had their biggest one-month drop since May 2012. August started on a high note. On Aug. 2, news that unemployment fell to its lowest level in more than four years helped lift the S&P 500 to a record high of 1,709.67. Then things quickly changed. Bond yields jumped, sending mortgage rates up, as investors began speculating that the Fed would withdraw some of its support for the economy as early as September.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week