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NEW YORK — Stocks fell in light trading Monday after a plunge in China’s main stock market sent a wave of selling around the world and added to concerns that stocks have rocketed too high, too fast.
The Standard & Poor’s 500 index, which is the basis for many mutual funds, ended August higher to post its sixth straight monthly gain. It is up 50.9 percent since early March, the best run since 1938.
The milestone brought little comfort to investors who are more concerned with the uncertainties of the future. A 6.7 percent drop in China’s main stock index rattled traders who were already on edge that they will have to slog through a tougher market in the fall.
September has been the worst month for the stock market during the past 80 years, and it begins with many analysts already worried that investors have bet too soon on a recovery. Data due today on manufacturing and employment on Friday could upend the market’s six-month-old rally or help push it forward.
The retreat shaved some gains from the best August since 2000.