Markets close lower Monday

NEW YORK, Jan. 12 (UPI) -- U.S. markets closed lower Monday with financial firms among those leading the decline.

Citigroup Inc., under pressure to sell a portion of Smith Barney, fell 19.26 percent. Bank of America shares dropped 12.24 percent.

By close, the Dow Jones industrial average lost 125.13 points, or 1.46 percent, to 8,474.05. The Standard & Poor's 500 fell 2.26 percent, 20.09 points, to 870.26. The Nasdaq composite index fell 32.80 points, 2.09 percent, to 1,538.79.

On the New York Stock Exchange, 731 stocks advanced and 2,362 declined on a volume of 5.1 billion shares traded.

The benchmark 10-year U.S. Treasury bond rose 24/32, to yield 2.316 percent.

The euro fell to $1.3371, compared to Friday's $1.3431. Against the Japanese yen, the dollar fell to 89.14 yen from Friday's 90.24 yen.

In Tokyo, the Nikkei average lost 39.62 points to 8,836.80, down 0.45 percent.

In London, the FTSE 100 index dropped 0.5 percent, 22.35 points, to 4,426.19.