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NEW YORK, Feb 8 (Reuters) - U.S. stocks dropped on Monday as concern over global growth hit banks and other economically sensitive shares, but a late rally in energy shares left the market well off its lows of the day.
The Dow Jones industrial average was down 176.14 points, or 1.09 percent, to 16,028.83, the S&P 500 had lost 26.5 points, or 1.41 percent, to 1,853.55 and the Nasdaq Composite had dropped 79.39 points, or 1.82 percent, to 4,283.75.
Reporting by Marcus E. Howard; Editing by Nick Zieminski