[post] was originally published on [this site] The Dow Jones Industrial Average plunged as much as 598 points Monday on China property default fears. Tech giants Advanced Micro Devices, Apple , Nvidia and Tesla stock sold off in today’s stock market, as the Nasdaq looks for support at a key benchmark. X Among the Dow Jones leaders, tech titan Apple ( AAPL ) sold off 1.7% Monday, while Microsoft ( MSFT )) moved down 1%. Nike ( NKE ) is tracing a new base, but is below a key technical level. [(] Tesla ( (TSLA) ) threatened to snap a five-day win streak Monday, sliding over 3.5% in morning trade. The EV leader remains above a new entry. Among stocks on the move, chip giants Advanced Micro Devices ( AMD ) and Nvidia ( (NVDA) ) were sharply lower after the open. Among the top stocks to buy and watch, Chipotle Mexican Grill (CMG), Deckers (DECK) and Revolve (RVLV) are in or near buy zones. Deckers, Microsoft and Tesla are IBD Leaderboard stocks. Revolve is an IBD IPO Leader. Nike was featured in last week’s Stocks Near A Buy Zone column. Today: China Property Default Fears After Monday’s stock market open, the Dow Jones Industrial Average pared losses to 1.2%, while the S&P 500 dropped 1.4%. The tech-heavy Nasdaq composite sold off 1.6% in morning trade. Monday’s stock market weakness came amid fears over property developer China Evergrande Group. Investors increasingly believe that Beijing will let Evergrande fail and inflict losses on its shareholders and bondholders, according to the Wall Street Journal The company’s debt burden is the biggest for any publicly traded real-estate management or development company in the world. Among exchange traded funds, the Innovator IBD 50 (FFTY) was down nearly 4% Monday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) lost 2%. Meanwhile, the SPDR S&P 500 ETF (SPY) was down 1.7%. Stock Market Rally Weakens The Nasdaq opened near its 50-day line early Monday where it will look for key support. The S&P 500 broke support at that level Friday, while the Dow Jones Industrial Average is falling further below its own 50-day line. Friday’s The Big Picture column commented, “Even though the Nasdaq remains above its 50-day line, the weakening action in the S&P 500 and Nasdaq justify a downgrade in IBD’s market outlook to “uptrend under pressure.” While the market is not exactly breaking down, this is a precautionary move as indexes and many leading stocks appear to be on the edge of potentially larger declines.” Stock Market ETF Strategy And How To Invest Dow Jones leader Nike is tracing a flat base with a 174.48 buy point, according to IBD MarketSmith chart analysis. But shares are below their key 50-day moving average line. Retaking support at that critical level would be bullish for the stock’s immediate prospects. Shares were down 1.1% Monday. Nike earnings are due Thursday. Through Sept. 10, Nike was the No. 8 performer on the Dow Jones Industrial Average, advancing more than 15%. Gold man Sachs ( GS ) was the top Dow Jones stock with a year-to-date gain of 52% through Sept. 15. Stocks On The Move: AMD , Nvidia , Chip giants Advanced Micro Devices and Nvidia were down sharply Monday morning. AMD stock dropped 1.7% after the open Monday. Shares are forming a consolidation with a 122.59 buy point, according to IBD MarketSmith chart analysis. AMD stock is right at its 10-week line. If the stock — and the overall market — is able to bounce, then investors can initiate a new position or add shares to an existing position. Then, they can buy more when the stock breaks out past the conventional buy point. Especially in this choppy market, it’s important to get a head start on a position before new highs. Nvidia slid nearly 3% Monday. The stock fell back into the 5% buy range past a 207.43 buy point in a cup with handle. Stocks To Buy And Watch: Chipotle, Deckers, Revolve, Friday’s IBD Stock Of The Day, Chipotle Mexican Grill, is rebounding from its key 50-day moving average, though it fell 0.4% Friday and was down 1% Monday. The burrito maker has been trading tightly following a post-earnings jump. Look for continued support around its 10-week line, which would be bullish for the stock’s prospects during the current market weakness. According to IBD Stock Checkup, CMG stock boasts a perfect 99 IBD Composite Rating. The IBD Composite Rating identifies stocks with a blend of strong fundamental and technical characteristics. IBD Leaderboard stock Deckers is trying to move past a 444.58 entry in a flat base — according to IBD MarketSmith chart analysis — following Friday’s sharp downside reversal. Shares slipped 3% Monday. Per Leaderboard commentary, the top retail stock has cleared a mini trendline entry near 433, providing an early buy point. Its relative strength line just hit a new high. IPO Leader Revolve slid about 5% Monday, as the stock looks to continue further up the right side of a new cup base. The entry is at 74.92. In addition, an early entry at resistance near 67.80 is also in play. The top IPO stock appeared in last week’s IPO Leaders story. IBD Live: A New Tool For Daily Stock Market Analysis Tesla stock sold off 3.5% Monday, threatening to snap a five-day win streak. Tesla remains in buy range above an alternate entry at 730. In recent weeks, shares regained their 700.10 aggressive buy point deep inside a correction. Meanwhile, a deep, large base continues to take shape. On Jan. 25, Tesla stock hit a record high 900.40, after climbing as much as 93% from a 466 buy point in a cup-with-handle. Among the top Dow Jones stocks, Apple moved down about 1.7% Monday, falling further below key support at the 50-day line. Software giant Microsoft dropped 1% Monday, on pace to add to Friday’s 1.75% decline. Shares are just below a three-weeks-tight add-on entry at 305.94, but may now be pulling back to their 50-day line. Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average. YOU MAY ALSO LIKE: Top Growth Stocks To Buy And Watch Learn How To Time The Market With IBD’s ETF Market Strategy Find The Best Long-Term Investments With IBD Long-Term Leaders MarketSmith: Research, Charts, Data And Coaching All In One Place How To Research Growth Stocks: Why This IBD Tool Simplifies The Search For Top Stocks