Stocks dropped on Monday at the open as a divisive bailout plan for Cyprus knocked confidence in banks and provided investors a reason to lock in profits from the recent rally.

The Dow Jones industrial average <.DJI> was down 97.11 points, or 0.67 percent, at 14,417.00. The Standard & Poor's 500 Index <.SPX> was down 12.24 points, or 0.78 percent, at 1,548.46. The Nasdaq Composite Index <.IXIC> was down 34.82 points, or 1.07 percent, at 3,214.25.

(Reporting by Ryan Vlastelica; Editing by Kenneth Barry)