NEW YORK (TheStreet) -- Stocks spent their fifth day in the red on Monday, their longest losing streak in six months, after a selloff in Chinese equities pressured global markets and exacerbated worries over the health of the world's second-largest economy. 

The Dow Jones Industrial Average was down 0.81%, or 141 points. The S&P 500 fell 0.58% and the Nasdaq tumbled 1%.

The rout in Chinese stocks was having a negative impact on crude oil. Commodity investors feared a continued slowdown in the Chinese economy would further reduce demand. West Texas Intermediate crude closed 1.6% lower to $47.39 a barrel. 

Energy stocks were the worst performers on markets Monday. Chevron(CVS) - Get Report, ConocoPhillips(COP) - Get Report, Shlumberger(SLB) - Get Report, BP(BP) - Get Report and Kinder Morgan(KMI) - Get Report fell, while the Energy Select Sector SPDR ETF (XLE) - Get Report dropped 1.1%. 

U.S.-listed Chinese stocks were under pressure. E-commerce giant Alibaba(BABA) - Get Report fell 2%, smaller rival - Get Report stumbled more than 6%, E-Commerce China Dangdang (DANG) slid 1.8%, and major oiler PetroChina(PTR) - Get Report slipped 4.9%. 

China's Shanghai Composite tumbled 8.5% on Monday, its largest single-day drop since June 2007, in response to fears a government rescue plan was petering out. Stocks were lower after fresh data showed industrial profits in China down 0.3% in June after two months of gains. However, selling tripled in volume later in the session, long after data was digested.

Delta Air Lines(DAL) - Get Report shares were on watch after the company said it would spend $450 million to acquire a 3.55% stake in China Eastern Airlines(CEA) - Get Report. The American airline also expanded an existing partnership with the Chinese company wherein the two will code-share more trans-Pacific flights. 

Teva Pharmaceuticals(TEVA) - Get Report jumped more than 12% after agreeing to buy Allergan's(AGN) - Get Report generic drug company for $40.5 billion. The deal marks the latest in a surge of mergers and acquisitions in the health care industry. Deals in the sector this year have already reached $180 billion.

UBS(UBS) - Get Report was lower after reporting better-than-expected earnings in its most recent quarter. The Swiss bank earned 1.21 billion Swiss francs ($1.26 billion), up 53% from a year earlier and far higher than 878 million francs expected. Results were listed earlier after a Swiss newspaper published false numbers.

Fiat Chrysler Automobiles(FCAU) - Get Report fell 5% after being slapped with a record fine of $105 million for failing to commit to 23 recalls, totalling 11 million vehicles. The fine includes a $70 million cash fine, $15 million if more violations are found, and $20 million based on fixing current issues, according to The New York Times.

Qualcomm(QCOM) - Get Report was 1.2% higher after Morgan Stanley upgraded shares to "overweight" from "equal weight" with a $75 price target. The firm said the upgrade was due to continued market leadership, more positive chip industry conditions, and an attractive valuation.

Durable goods orders in the U.S. rose 3.4% in June, driven by strong bookings with passenger airlines. Business investment remained weak with orders for core capital goods gaining 0.9% in June. Economists expected the headline number to increase 2.6%.