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Dow down 180
(Google Finance)
Stocks are getting slammed on Monday and crude oil is falling to new lows.
Near 1:01 p.m. ET, the Dow was down 173 points, the S&P 500 was down 14 points, and the Nasdaq was down 38 points.
It was much uglier in Greece, where the Athens Stock Exchange (ASE) index, which reopened after a five-week closure, fell 23%.
Crude oil is sliding to new lows. Brent crude, the international benchmark, fell below $50 per barrel for the first time since January. West Texas Intermediate crude fell below $45 per barrel, the lowest level since mid-March.
The energy sector declined the most on the S&P 500, falling nearly 2%.
It's a busy month for US economic data in what's the crucial period before the Fed possibly raises rates in September, as many in the market expect.
To start off, we got manufacturing data this morning. The Institue of Supply Management's manufacturing report leaked, coming in at 52.7 for July versus the consensus forecast, June print, and year-to-date high of 53.5.
US auto sales crushed it last month. The data is rolling in throughout the day and we're keeping track here. It's been a beat on expectations all around so far. GM sales rose 6.4% (0.4% estimated), and Ford sales jumped 4.9% (1.8) forecast).
Twitter shares fell more than 6% to a fresh low of around $28.91.
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