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Five Things Everyone Will Be Talking About Today

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What You Need to Know: Stock Sell-off, Oil, Fed Rates

It's PMI day, there's mixed news from Europe, and the oil surge is running out of steam. Here are some of the things that people in markets are talking about today.

China's official Purchasing Managers Index fell to 49.7, the lowest level in three years, down from 50 in July. A reading below 50 indicates a contraction. The Shanghai Composite Index closed the session 1.23 percent lower, extending the biggest two-month tumble since 2008. Markets in China will be closed on Thursday and Friday of this week due to a World War II anniversary holiday.