Indices closed well into the red zone on Monday. Bank brands such as Morgan Stanley, Bank of America, and Citigroup led the way down. Stocks traded lower amid concern over partial results in the Italian elections. Meanwhile, Apple took a breather today after Needham slashed its price target to $710 from $750. The firm did, however, maintain its 2013 and 2014 earnings estimates for the iPhone innovator. Elsewhere, crude oil futures slipped by two cents to settle at $93.11 a barrel.