U.S. stocks appear set to open lower after another selloff in Chinese markets. Stocks in Shanghai finished 4% lower, dragging other Asian and European markets down. In the past two weeks, the Shanghai Composite Index has dropped nearly 20%.
It is a light day for economic numbers, but there are two weekly reports of interest. The Mortgage Bankers Association reported a rise in mortgage applications last week as interest rates dropped, and the Energy Department will release weekly oil inventory numbers at 10:30 am ET.
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