Markets close lower

NEW YORK, Oct. 31 (UPI) -- U.S. markets turned lower Monday after a bullish week prompted by the European Union's plan to rescue debt-burdened countries and banks.

The plan had pushed stocks ahead for the week, potentially overshadowing weak economic data, which is coming into focus this week.

By close of trading on Wall Street, the Dow Jones industrial average dropped to 11,955.01 with the loss of 276.10 points or 2.26 percent. The Standard & Poor's 500 index dropped to 1,253.30, off 31.78 points or 2.47 percent. The Nasdaq composite index of tech-dominated stock fell to 2,684.41, down 52.74 points or 1.93 percent.

On the New York Stock Exchange, 559 stocks advanced and 2,487 declined on a volume of 3.9 billion shares traded.

The benchmark 10-year treasury note rose 1 19/32 to yield 2.134 percent.

The euro fell to $1.3853 from Friday's $1.415. Against the yen, the dollar rose to 78.18 yen from Friday's 75.83 yen.

In Tokyo, the Nikkei 225 index lost 0.69 percent, 62.08, to 8,988.39.

In London, the FTSE 100 index lost 2.77 percent, 158.02, to 5,544.22.