Red on U.S. stock screens Monday started after Chinese stocks took an 8.5% nosedive overnight. The Dow, S&P 500 and the Nasdaq closed lower for a fifth straight session. That's the longest losing streak for the major indices in six months.
Energy was not only the worst performing sector Monday, but also the ugliest for the month of July and for 2015.
Weaker oil once again helped to push the energy sector lower. Oil fell 1.56%, settling at $47.39 per barrel. That was the lowest settle for oil since March 20.
Following Sunday's 8.5% drop in the Shanghai Index, you've got to wonder, why is China so important for U.S. investors to watch? Some say it isn't, but New Oak Capital's Jim Frischling says even if you don't own Chinese stocks, China matters!