NEW YORK (AP) — U.S. stocks are closing lower as Wall Street's modest August retreat continued another day.

Stocks wavered over the day as investors are unsure whether the market's strong run in July is the start of a turnaround or a temporary blip.

The S&P 500 finished down 0.7% and the Nasdaq and Dow Jones Industrial Average also fell. Analysts cited comments from Federal Reserve officials that suggested continued hikes to interest rates are coming in order to knock down inflation.

Caterpillar took a hit after reporting weak sales. Uber shares took off following its own strong quarterly report.

Treasury yields climbed.