US stocks dropped on Monday amid continuous fears over the Eurozone's economic instability. News from China also added pressure on the US equities as PoBC adviser announced that China's economy is likely to slow further in the next quarters. The sell-off in risky assets was widespread, with all industries within S&P 500 posting sharp declines. S&P 500 lost 0.89% to end the day at 1,350.52. Basic materials sector was the top-loser, with Alcoa and Cliffs Natural Resources declining by 1.45% and 3.63%.Oil and gas industry also was among the weakest sectors within the index, falling by 0.99% amid global energy demand worries. Pioneer Natural Resources and Denbury tumbled 4.36 and 4.56%. At the same time, Resources Hallliburton managed to gain 2.4% after reporting flat earnings in Q2.