Wall Street loses earlier gains to end flat

NEW YORK (AA) – Wall Street closed flat Monday, reversing gains it posted earlier in the day as investors took a sell-off position before the Federal Reserve's interest decision Wednesday.

A one percent increase in crude oil prices helped markets start Monday with gains but investors' worries about the Fed's September meeting took over during trading hours.

The possibility of an interest rate hike is now lower compared to recent weeks ago when Fed Chair Janet Yellen said she sees improvement in the U.S. economy.

But, the Federal Open Market Committee is expected to make hawkish remarks later this week that it may increase its benchmark interest rate at its meeting in December, according to analysts.

At the final bell, the Dow was down only three points to 18,120 and the S&P was flat at 2,139.12. The Nasdaq lost nine points to 5,235.

American and international benchmark crude oil were up less than 0.5 percent each at the closing bell.