US stocks drop as China weighs on markets
Source: AP-EXCITE
By STEVE ROTHWELL
NEW YORK (AP) — US stocks were on track for their biggest loss in almost seven weeks Monday as investors worried about signs of weakness in China. Worries about slowing growth in the world's second-largest economy pushed the down the price of oil, weighing on energy stocks.
KEEPING SCORE: The Standard & Poor's 500 index dropped 13 points, or 0.7 percent, to 1,996 as of 1:25 p.m. Eastern. The Dow Jones industrial average fell 66 points, or 0.4 percent, to 17,214. The Nasdaq composite dropped 56 points, or 1.2 percent, to 4,523.
CHINA WORRIES: Investors are nervous about China following a run of soft economic data that suggests growth in the world's second-largest economy is slowing. On Tuesday, HSBC publishes its closely watched gauge of Chinese manufacturing activity.
ENERGY: Benchmark crude oil fell $1.02, or 1.1 percent, to $90.63 a barrel on the New York Mercantile Exchange. Energy stocks fell 1.2 percent, putting them among the biggest decliners in the 10 industry groups that make up the S&P 500 index.
FULL story at link.
FILE - In this Feb. 10, 2011, file photo, American flags fly in front of the New York Stock Exchange, in New York. Stock markets fell Monday, Sept. 22, 2014, ahead of a preliminary manufacturing survey from China that might show renewed weakness in the world's second-largest economy. (AP Photo/Mark Lennihan, File)
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