Stocks are holding near their lows of the day during late morning trading on Monday.

Steel and housing stocks are leading the decline, with the Amex Steel Index and the Philadelphia Housing Index down 8.2 percent and 6.6 percent, respectively.

Meanwhile, gold stocks are showing some of the only advances on the day, with the Amex Gold Bugs Index up 1.3 percent.

Currently, the Dow is down 260.45 at 7,515.73, the Nasdaq is down 54.05 at 1,491.15, and the S&P 500 is down 27.33 at 788.61.

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