Dow tanks 483 points, Nasdaq off 1.9%, oil drops to $76 Selling momentum kicked in for U.S. stocks on Monday with all three of the major U.S. averages closing with losses after a string of better-than-expected economic reports on factory orders and ISM services which raised concerns the Federal Reserve will remain aggressive on interest rate hikes. In commodities, oil reversed gains falling 3.8% to $76.93 per barrel. More on this For more news, please go to FoxBusiness.com and watch Fox Business Network.

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