An trader works on the New York Stock Exchange's floor in New York City, New York. March 3, 2020. Andrew Kelly/ReutersStocks in the US fell Monday as a result of new growth worries and a slowdown at manufacturing.In July, the ISM Manufacturing Index dropped to 59.5, below economist estimates of 61.Following the release of data, interest rates dropped with the US 10-Year Treasury yield reaching 1.17%.Subscribe to our daily newsletter 10 Things Before The Opening Bell.Stocks in the US fell Monday due to a slower manufacturing sector, which prompted new growth concerns amid ongoing economic recovery by COVID-19.According to Bloomberg, the ISM Manufacturing Index dropped to 59.5 in July. This was below economist expectations of a rise to at least 61. The ISM Manufacturing reading for July was the lowest since January. It was 60.6 in June.An ISM Manufacturing Index reading of 50 or more indicates that there has been an increase in manufacturing activity, which accounts for about 12% the US economy. A new growth panic led to a drop in interest rates with the 10-Year US Treasury yield dropping to 1.17%.Here are the US indexes at 4:00 p.m. ET closes MondaySquare surged as high as 12% Monday following the acquisition of Afterpay, a fintech platform that allows users to "buy now and pay later", for $29 billion in an all stock deal.HSBC's earnings results exceeded profit estimates. As the economy continues to recover from COVID-19, the bank has lowered its loan loss provisions.Robinhood stated that only 301,573 users (or 1.3%) participated directly in its IPO last Wednesday, when they purchased shares of the online trading platform at $38 each share.Tesla rose 5% Monday amid strong July delivery numbers by its Chinese rivals.Lower oil prices. West Texas Intermediate crude fell as high as 3.46% to $71.39 per barrel. Brent crude oil, the international benchmark for oil, dropped 3.14% to $73.04/barrel.Gold dropped 0.36% to $1,810.70 an ounce.
