'Fast Money' Recap: Surviving September

NEW YORK (TheStreet) -- China's shaky stock market reverberated through the U.S. markets Monday.

The Dow Jones Industrial Average dropped 47.92, or 0.50%, to 9496.28, and the S&P 500 fell 8.31, or 0.81%, to 1020.62. The Nasdaq sank 19.71, or 0.97%, to 2009.06.

Guy Adami said on CNBC's "Fast Money" TV show that today's sell-off confirmed China's influence on the U.S. markets. Joe Terranova said the onus will be on the bulls to turn things around. He alluded to a series of reports, including one from the Institute for Supply Management and the unemployment report, that could deliver the upward push.

For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

Pete Najarian said what was striking was the lack of commitment either way by traders in today's market action. "We're still waiting for the next leg of leadership."

Karen Finerman didn't put much stock into today's action, noting that the first week of September is a historically slow period, with a lot of people out.

She said some stocks, especially specialty retail stocks, are still overpriced. Adami agreed, noting J. Crew (JCG Quote) as a classic short-squeeze stock, up 270% from its March low. "It doesn't make sense. I don't care how many T-shirts it's selling to 19-year-old guys. It doesn't make sense," he said.

Melissa Lee, the moderator of the show, said the decline in China's market sent oil down below $70 a barrel as well as other commodities. Terranova said it's time to have less exposure to commodities in view of what is happening in China.