NEW YORK (Reuters) - Stocks fell more than 1 percent on Monday, dragged down by financials and telecom companies as investors took profits on strong gains racked up last week.
* The top drags on the Dow were Verizon Communications Inc
* The Dow Jones industrial average <.DJI> slipped 112.86 points, or 1.25 percent, at 8,921.83. The Standard & Poor's 500 Index <.SPX> fell 11.47 points, or 1.23 percent, at 920.33. The Nasdaq Composite Index <.IXIC> dropped 25.84 points, or 1.58 percent, at 1,606.37.
(Reporting by Deepa Seetharaman; Editing by James Dalgleish)
