Stocks Begin With Global Selloff Right Out of the Gate on China

U.S. stocks are starting the new year with lots of volatility. Stocks in China fell so sharply that trading was halted. The selloff came after disappointing manufacturing numbers in China, further evidence the world's second largest economy is slowing. Oil prices are also on the rise on increasing tensions between the world's largest oil producer, Saudi Arabia and Iran. The Saudi embassy in Tehran was stormed after the Saudi's executed 47 people, among them a Shiite cleric that Iran had defended. The two have cut all ties between the countries. Bahrain has also severed diplomatic ties with Iran. Tesla (TSLA) met its forecast for car deliveries in the 4th quarter, delivering 50,000 vehicles. Disney continues to benefit from the blockbuster 'Star Wars: The Force Awakens'. After this weekend's box office, it is set to surpass 'Avatar' as the top grossing film of all time.