After showing a notable decline earlier in the session, stocks are seeing continued weakness in mid-afternoon trading on Monday. While the major averages have not seen much further downside, they have remained firmly in negative territory.

With disappointing news out of the auto sector generating some selling pressure, significant weakness remains visible in a variety of sectors. Steel, banking, housing, and airline stocks are turning in some of the worst performances.

In recent trading, the Dow and the S&P 500 have hit new lows for the session, while the Nasdaq remains well off its worst level of the day. The Dow is currently down 303.62 at 7,472.56, the Nasdaq is down 53.26 at 1,491.94 and the S&P 500 is down 32.42 at 783.52.

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