U.S. stocks dropped on Monday as a statement on the economy from President Barack Obama fell short of addressing worries the recovery is faltering.

Investors were cautious ahead of several key reports coming this week.

The Dow Jones industrial average <.DJI> dropped 93.77 points, or 0.92 percent, to 10,056.88. The Standard & Poor's 500 Index <.SPX> dropped 10.11 points, or 0.95 percent, to 1,054.48. The Nasdaq Composite Index <.IXIC> dropped 21.84 points, or 1.01 percent, to 2,131.79.

(Reporting by Edward Krudy; Editing by Kenneth Barry)