US STOCKS-Wall St slumps after China stocks stumble
* Chinese shares post biggest drop in eight years
* Oil prices, commodities lower following China market rout
* Dow hits lowest level in five months
* Teva, Allergan jump after $40.5 bln deal
* Indexes down: Dow 0.66 pct, S&P 0.44 pct, Nasdaq 0.77 pct (Adds details, updates prices)
By Tanya Agrawal
July 27 (Reuters) - Wall Street began the week in the red on Monday and fell sharply on concerns about China's slowing growth in the wake of the biggest drop in Shanghai shares in eight years.
China's top securities regulator, China Securities Regulatory Commission, said on Monday that Beijing would continue to buy shares to stabilize the stock market.
The Dow Jones industrial average fell to its lowest level in over five months, while the Nasdaq composite was at a four-week low and the S&P 500 touched its lowest in more than two weeks. Continuación...