NEW YORK (
TheStreet) -- The markets pulled back Monday on worries about China's scaled-economic forecast for 2012.
Dow Jones Industrial Average fell 14.76, or 0.11%, to 12,962.81. The
S&P 500 dropped 5.30, or 0.39%, to 1364.33. The
Nasdaq fell 25.71, or 0.86%, to 2950.48.
Melissa Lee, the moderator of
CNBC's "Fast Money" TV show, led off with China's forecast economic forecast of 7.5% for this year, the lowest since 2004. That was coupled with a Credit Suisse forecast that the commodity supercycle underpinned by China had peaked.
Tim Seymour disagreed with the Credit Suisse report, saying that he still sees evidence for a demand for commodities as China continues its infrastructure buildout and social housing programs. "It's a focused kind of stimulus," he said.
For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
Karen Finerman said
(YUM - Get Report)
, which has extensive operations in China, was getting kind of expensive and advised against initiating a position in the stock.
Brian Kelly said the prudent course of action would be to move away from stocks with exposure to Asian growth. He said he had sold shares of
iShares MSCI Australia Index ETF
iShares MSCi South Korea Index Fund ETF
Lee said the today's buzz kill were the coal stocks which got hammered by the 5% decline in natural gas prices. Tim Seymour said that dynamic was reflected in the steep declines in
, down 7.96%, and
James River Coal
, down 7.43%.
Adami said he sees
(BTU - Get Report)
trading down to $25.
Although the oil markets were calm today, Seymour warned of demand destruction as geopolitical tensions between Israel and Iran rachet higher. Adami said he would lean on the short side of
Scott Nations said he saw some integrated names being bought today as implied volatility was very cheap.
Lee brought in Steve Mueller, CEO of
, whose company is encouraging the use of natural gas by providing employees with natural gas-powered vehicles to drive.
Mueller said natural gas, which prices at $2 a gallon, is a fuel that will be great for the country. He said there are 400 natural gas stations that are opened to the public now. He cited a study that shows that $18 billion would build enough CNG stations to reach 70% of the population in the U.S.