Stocks turned lower, with the Nasdaq falling 1 percent on Monday, led down by financial shares.

Wall Street had previously been flat in the volatile session, as positive U.S. economic data helped offset fears Greece may require increased euro zone financial assistance after news it will exceed its deficit targets. Financial stocks have been among the hardest hit by the sovereign debt issues in Europe.

The Dow Jones industrial average was down 77.23 points, or 0.71 percent, at 10,836.15. The Standard & Poor's 500 Index was down 10.34 points, or 0.91 percent, at 1,121.08. The Nasdaq Composite Index was down 25.27 points, or 1.05 percent, at 2,390.13.

(Reporting by Ryan Vlastelica; Editing by Kenneth Barry)