Wall Street set for biggest monthly drop in more than 3 years

U.S. stocks were poised for their worst monthly drop in more than three years on worries about the health of China's economy and the timing of a U.S. interest rate hike. All three major indexes slipped more than 1 percent on Monday after weekend comments from Federal Reserve Vice Chairman Stanley Fischer appeared to keep the door open for a rate hike in September. The No. 2 Fed official said U.S. inflation would likely rebound as pressure from the dollar fades, allowing the Fed to raise interest