Stocks fell on Monday for a fifth straight session. The Dow dropped to its lowest level since early February, and the S&P 500 saw its third five-day streak of losses this year. First, the scoreboard: Dow: 17,434.51, -134.02, (-0.76%) S&P 500: 2,067.23, -12.42, (-0.60%) Nasdaq: 5,041.76, -46.87, (-0.92%) And now, the top stories on Monday: Chinese stocks had their worst day in eight years. The Shanghai Composite fell 8.48% on Monday, its worst one-day percentage drop since February 2007. Every sector closed lower, and the index is down 10% from Thursday's close. Brent crude is in a bear market. In futures trading, the international benchmark of oil prices tumbled more than 2% to close at $53.47 per barrel. A bear market is roughly defined as a 20% drop from highs. On Thursday, West Texas Intermediate crude oil fell into a bear market, and reached a fresh four-month low near $47 per barrel on Monday. In economic data, durable goods orders climbed more than expected in June, boosted by a jump in transportation orders. Headline orders rose 3.4% (3.2% expected, -1.8% prior), and excluding the volatile transportation and defense components, orders rose 0.8% (0.4% expected, 0.4% prior). The data for May was revised lower. "On net, despite June strength, the long-awaited stabilization in capex orders still looks like a hope rather than a reality," wrote UBS' Maury Harris in a note to clients after the data. The Dallas Fed manufacturing index came in at -4.6, below the estimate for -7. Activity in Texas moderated, and a few survey respondents said there's a seasonal lull. Heavy rainfall in May, and weaker energy prices also took their toll on business activity, according to respondents. Israel-based Teva Pharmaceuticals is buying Allergan's generic drug unit for $40.5 billion It's the latest in the mega-deal frenzy that's happening in the industry. Teva rallied more than 15%, and Allergan shares gained 6%. Teva abandoned its bid for Mylan, whose shares tanked 15%. DON'T MISS: We're about to get a much better idea of just how well the US economy is doing »SEE ALSO: Yes, there really was a secret plan to hack the Greek state and bring back the drachma DON'T MISS: Your complete preview of this week's big economic events Join the conversation about this story » NOW WATCH: This animated map shows how religion spread across the world
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