Alibaba's second day of trading dropped 4 percent from their market debut last Friday at the New York Stock Exchange. Prices for crude oil also dropped, as recorded on global stocks, due to China's slow-paced economy. 

Although Jack Ma, chief executive of Alibaba Group Holding, Ltd., couldn't express his joy on how their market debut ended on Friday, their second day appeared to not be living up to the expectations. 

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Henry Guo, a senior analyst of JG Capital said that Alibaba's stock is high in demand and is expected to issue more shares. He says that this is one of the reasons why Alibaba slid down today. However, the main reason why the Alibaba's stocks went down was last week's rally.

In the afternoon trading, Dow Jones' average rebounded from Friday's market dropping to 100 points and reaching 0.6 percent. Standard & Poor's 500 stock market index went below 200 at a 0.8 percent rate while Nasdaq index dropped to 1.2 percent.

The blue-chip index soared to 17,279.71 with 13.75 points at 0.1 percent on Dow's closing on Friday and Standard & Poor's at a one-point drop to a 2010.40 was also at 0.1 percent. Finally, Narsaq falls to 4579.79 at 13.64 points with a rate of 0.3 percent. Accordingly, Hang Seng Index of Hong Kong had 1.4 percentto a 23,955.49 while Nikkei of Japan ended with 16,205.90 falling to 0.7 percent.

All in all, Alibaba's downfall was placed on its negative stance on Wall Street as reports say that it disrupted their soaring four-month streak--a frustrating data in the home sale's report, which dropped to 1.8 percent as recorded in August. Finally, Monday's table shows the Asian market's rapid fall as investors might conclude that China's economy is indeed slowing down. China's PMI reading is set for release on Tuesday. It should clearly present Asia's manufacturing activity, which is expected to be below the 50-level mark.

TagsNew York Stock Exchange, Dow Jones, Narsaq, PMI, S&P