Stocks fell at the open on Monday as several major banks announced large common stock offerings to repay government bailout funds and investors took profits following a strong run.

Bernanke to speak on financial system after market close

The Dow Jones industrial average <.DJI> dropped 91.28 points, or 1.06 percent, to 8,483.37. The Standard & Poor's 500 Index <.SPX> fell 13.77 points, or 1.48 percent, to 915.46. The Nasdaq Composite Index <.IXIC> lost 23.37 points, or 1.34 percent, to 1,715.63.

(Reporting by Rodrigo Campos; editing by Jeffrey Benkoe)