Stock market reverses course in Monday afternoon trade, with Dow down about 120 points

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U.S. stock markets turned south Monday afternoon, with early, modest gains fizzling, amid selling in financials and communication services The Dow Jones Industrial Average was trading about 115 points lower, or 0.3%, at 34,630, the S&P 500 index was trading 0.3% lower at 4,380, while the Nasdaq Composite Index shed 0.1% at 14,560. All three benchmarks had been showing modest gains earlier in the session. The Treasury is closed in observance of Columbus Day in the U.S.

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