US STOCKS SNAPSHOT-Wall St slumps at open on European concerns

NEW YORK, March 18 Mon Mar 18, 2013 9:34am EDT

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NEW YORK, March 18 (Reuters) - U.S. stocks dropped on Monday at the open as a divisive bailout plan for Cyprus knocked confidence in banks and provided investors a reason to lock in profits from the recent rally.

The Dow Jones industrial average was down 97.11 points, or 0.67 percent, at 14,417.00. The Standard & Poor's 500 Index was down 12.24 points, or 0.78 percent, at 1,548.46. The Nasdaq Composite Index was down 34.82 points, or 1.07 percent, at 3,214.25.

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