After The Bell: Plunge In Chinese Stocks Sends Wall Street Lower

By Andy Giersher

(CBS) -- Stocks closed lower on Monday after a plunge in Chinese equities and the continued decline in commodity prices weighed on investor sentiment. The Dow Jones industrial average shed 128, the S&P 500 lost 12 and the NASDAQ closed down nearly 49 points, settling to 5,039.

"There doesn't seem to be a lot of information coming from China as to what caused the worst sell off in their stock market in years. I think there's a lot of volatility going on in this market and a lot of people are spooked." says Andy Busch, Editor of the Busch Update.

He adds that China's slowing growth is also a major factor in falling commodity prices.

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