BUZZ-U.S. STOCKS ON THE MOVE-Allergan, Republic Airways, Magnetek
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks were lower on Monday after an increased selloff in Shanghai shares sparked concerns over China's slowing growth. The Dow Jones industrial average was down 0.85 percent at 17,419.34, the S&P 500 was down 0.60 percent at 2,067.07 and the Nasdaq Composite was down 0.97 percent at 5,039.439.
** ALIBABA GROUP HOLDING LTD, $81.3, -2.07 pct
** SOHU.COM INC, $42.8, -4.21 pct
** BAIDU INC, $197.28, -4.35 pct
** JD.COM INC, $32.1599, -7.16 pct
** YY INC, $57.84, -3.44 pct
Chinese shares tumbled more than 8 percent on Monday as an unprecedented government rescue plan to prop up valuations abruptly ran out of steam, throwing the viability of Beijing's efforts to stave off a deeper crash into doubt.
The China Securities Financial Corporation (CSFC) has returned ahead of schedule some of the funds it borrowed from commercial banks to stabilise the stock market, three people in the banking industry with direct knowledge told Reuters. Continued...