India, Aug. 31 -- US stocks fell on Monday as tensions between the US and Iran returned to the markets. The three major US indexes moved lower after the two countries exchanged strikes for the first time in about a month. However, Wall Street was still on track to finish August with strong gains.

The Dow Jones Industrial Average was down 346 points, or 0.7%. The S&P 500 fell 0.5%, while the Nasdaq Composite also dropped 0.5%, according to CNBC. The latest US-Iran conflict came after a US strike on Iran. US Central Command confirmed to MS NOW that the US struck two rocket launchers on Iran's Larak Island on Sunday.

The Sunday attack was the first publicly acknowledged US strike on Iranian positions since late July. Iranian state media sa...