Some tech shares turn positive as Dow chops huge early losses

U.S. stocks plunged more than 3.5 percent on Monday, closing off session lows in high volume trade as fears of slowing growth in China pressured global markets. ( Tweet This )

S&P 500 ended nearly 80 points lower, off session lows of about 104 points lower but still in correction territory after the tech sector failed intraday attempts to post gains. Nine of the 10 sectors are in correction territory, with consumer staples less than 1 percent away.

Cumulative trade volume was 13.94 billion shares, the highest volume day since Aug. 10, 2011. Composite trade volume on the New York Stock Exchange was 6.57 billion shares, the heaviest since Oct. 27, 2011.

"This is the proverbial markets hating uncertainty and you've got uncertainty in every driver—Fed, China, oil prices," said Quincy Krosby, market strategist at Prudential Financial. "This is a market in pricing discovery in where prices should be."

"The market's going to be focused on China tonight to see if they come on tonight with something that would be considered a viable (way) to stimulate growth in that economy," she said.

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