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Dow falls 276 points on first Monday of 2016

China's economy is still struggling

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Plummeting Chinese manufacturing data led the Dow Jones industrial average to dive 276 points Monday.

The main worry was China. The day kicked off with the release of some really poor Chinese manufacturing data. It's the latest red flag that China's economy is still struggling. But the problem is no one knows just how bad it really is because Chinese government stats are notoriously unreliable.

It also didn't help that China's main stock market in Shanghai actually halted trading because stocks were down so much (about 7%).

As if that wasn't enough, Iran and Saudi Arabia are back at each other. That doesn't bode well for the Middle East, a key oil producing region. Oil prices have been super volatile lately. Crude oil is currently sitting at about $36.50 a barrel. Oil fell below $35 in mid-December, causing stock prices to fall.

CNNMoney's Fear & Greed Index, which looks at seven measures of investor sentiment, dipped into Fear territory on Monday.