COSTELLO: All right. This is not good news. The Dow Jones is making a big drop right at the open. It's down nearly 154 points. You see that there. Alison Kosik is following this from the New York Stock Exchange. Why is this happening?</s>ALISON KOSIK, CNN BUSINESS CORRESPONDENT: Carol the bear is coming out to play for a few reasons. For one there was a down beat report out of China on its manufacturing that's pushing investors to sell. And what it showed is that manufacturing in China contracted that it didn't grow. And China matters to all too because it's one of our biggest trading partners. So if China is not doing well, that affects us. Also we're seeing stocks much lower today just in the first half hour of trading because investors are really looking for signs that the economy is strong enough to keep bull market running that we saw happen last year. And so they're also looking to companies for that. You know we're knee deep in the middle of fourth quarter earning seasons. So investors really aren't getting much comfort from the company angle either. A lot of these reports coming out from these companies are mixed at best. Investors were hoping for more and that's some of the reasons why you're seeing the Dow down 159 points at the moment -- Carol.</s>COSTELLO: All right we'll check back with you Alison Kosik live from the New York Stock Exchange. The next hour of NEWSROOM starts now. And good morning. I'm Carol Costello. Thank you for joining me. Justin Bieber now the latest pop star to fall from grace. The 19- year-old singer was arrested early this morning on suspicion of street racing and DUI. Miami Beach Police say the singer was taken into custody just after 4:00 a.m. while driving a rented Lamborghini. Police say Bieber resisted arrest and admitted to police he had been drinking and smoking marijuana before getting behind the wheel of that car.
Dow Slides Lower at Open