S&P 500 falls slightly Tuesday, but notches 7th-straight winning month in August; European stocks close lower on inflation fears but post seventh straight month of gains 
Stocks hovered near record highs on Tuesday as the S&P 500 headed for its seventh straight month of gains at a record high. 
The Dow Jones Industrial Average slipped 37 points, or about 0.1%. The S&P 500 lost 0.1%, while the Nasdaq Composite was down 0.1%. 
Tuesday marks the last trading day of August, and major averages are poised to post solid gains for the period. The S&P 500 is up 3% this month, while the tech-heavy Nasdaq Composite has climbed 4%, on pace to post its third winning month in a row. The blue-chip Dow is up a more modest 1.3%. 
Zoom shares fell about 16% on Tuesday after the video-conferencing software company showed slowing revenue growth in the second quarter, weighting on the Nasdaq. Shares of Apple also declined, but Amazon’s stock rose 1% to help offset those losses for the broader markets. 
Shares of Wells Fargo fell more than 5% in afternoon trading after Bloomberg News reported that the bank could face further sanctions as regulators are upset about the pace of progress in compensating victims of Wells Fargo’s previous scandals. Wells Fargo declined to comment to CNBC. 

The pan-European Stoxx 600 index closed down 0.5% provisionally. However, the index was up over 1% month-on-month, marking its seventh consecutive month of gains. That’s despite August typically being a quieter month for trading given the summer vacation period. 
Markets turned lower on Tuesday following the release of euro zone inflation data for August which showed consumer prices increased by 3% this month from a year ago, according to preliminary estimates, far above expectations and the European Central Bank’s 2% target. The data will put pressure on the central bank to address inflation concerns at a key meeting next week. 
Source: CNBC, Investing.com