US STOCKS-Market falls on financials; Nasdaq down 1 pct

(Updates to show Nasdaq dropping 1 percent)

NEW YORK, Feb 4 (Reuters) - U.S. stocks declined on Monday, with the Nasdaq losing about 1 percent, after UBS cut its rating of three big credit card providers, including American Express (AXP.N: Quote, Profile, Research), underscoring worry about a consumer-led recession.

The Dow Jones industrial average .DJI was down 92.51 points, or 0.73 percent, at 12,650.68. The Standard & Poor's 500 Index .SPX was down 12.72 points, or 0.91 percent, at 1,382.70. The Nasdaq Composite Index .IXIC was down 24.01 points, or 0.99 percent, at 2,389.35. (Reporting by Jennifer Coogan; Editing by Leslie Adler)