The Associated Press

NEW YORK—Wall Street fell Monday in an erratic session dominated by worries about inflation — which were somewhat soothed by a plunge in oil prices that took crude to its lowest level in three months.

Light, sweet crude closed down $3.69, or 2.9 percent, to settle at $121.41 a barrel on the New York Mercantile Exchange after Tropical Storm Edouard seemed unlikely to threaten oil and natural gas facilities in the Gulf of Mexico. Oil has now fallen nearly $26, or 17.6 percent, since it reached a trading high of $147.27 on July 11; Monday’s close was i...