(CNBC) — U.S. stocks closed lower Monday, despite gains in oil, as the S&P 500 and Nasdaq composite ended February with losses.
Traders attributed the decline in stocks largely to late-day sell orders around the month-end.
Selling accelerated into the close, with the S&P 500 closing about 0.8 percent lower on the day and down 0.4 percent for the month. The S&P and Nasdaq posted their first three-straight months of losses since 2011.
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