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NEW YORK, Sept. 22 (Xinhua) -- U.S. stocks closed lower on Monday, with the S&P 500 suffering the largest one-day decline since early August, on worse-than-expected U.S. housing data and concerns over China's economic growth.

The Dow Jones Industrial Average lost 107.06 points Cheap Richard Sherman Jersey , or 0.62 percent, to 17,172.68. The S&P 500 dipped 16.11 points, or 0.80 percent Cheap Michael Bennett Jersey , to 1,994.29. The Nasdaq Composite Index fell 52.10 points, or 1.14 percent, to 4 Cheap Earl Thomas III Jersey ,527.69.

U.S. existing homes sales slipped 1.8 percent in August after four consecutive months of gains, as investors paying in cash retreated from the market, the National Association of Realtors said Monday.

Moreover, investors' hopes of aggressive policy easing from China were dampened by a statement from China's Finance Minister Lou Jiwei Cheap Jeremy Lane Jersey , who said China's macro policy will focus on delivering comprehensive growth targets such as stable employment and inflation, and will not be distracted by changes in certain economic indicators.

In Europe, economic growth outlook also remained gloomy as recent data from the area were still sluggish.

On corporate news, Alibaba Group shares fell 4.26 percent to end at 89.89 U.S. dollars per share on Monday Cheap 12th Fan Jersey , after surging 38 percent on its first trading day at the New York Stock Exchange last Friday.

Alibaba shattered the record for the largest initial public offering (IPO) in history, raising a total amount of 25 billion dollars, as underwriters exercised an option to sell additional shares granted by the company, people familiar with the matter confirmed with Xinhua.

According to a regulatory filing with the U.S. Securities and Exchange Commission on Monday Cheap Steve Largent Jersey , Alibaba said total underwriting discounts and commissions to be paid to the underwriters will amount to 300.4 million dollars, which represents 1.2 percent of the total amount of the offering.

Tech giant Apple announced on Monday that it has sold a record number of over 10 million new iPhone 6 and iPhone 6 Plus models just three days after the launch. Apple shares fluctuated to end 0. 1 percent higher at 101.06 dollars a share.

The CBOE Volatility Index, often referred to as Wall Street's fear gauge, rose 13.05 percent to end at 13.69.

Last Friday Cheap Russell Wilson Jersey , the blue-chip Dow finished at a new record, as investors cheered Alibaba's trading debut and Scotland's vote to remain in the United Kingdom.

In other markets, the dollar traded mixed against major currencies Monday as other currencies recovered some ground after 10-week gains of the dollar index.

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