US stocks fell a day after the Dow hit a 13-month high, after data showed the economy grew in the third quarter, but at a slower rate than expected.

The Dow Jones industrial average dropped 17.24 points, or 0.16 percent, at 10,433.71. The Standard & Poor's 500 Index fell 0.59 points, or 0.05 percent, at 1,105.65. The Nasdaq Composite Index lost 6.83 points, or 0.31 percent, at 2,169.18.

European shares closed lower today after data showed the US economy grew at a slower rate than forecast in the third quarter and home prices in the United States rose less than expected in September.

the pan-European FTSEurofirst 300 index of top shares closed 0.7 percent lower at 1,016.66 points after rising to a high of 1,025.17 earlier in the session. The index has gained 57 percent since falling to a record low in early March and is up 22 percent for the year.

Japan's Nikkei average hit its lowest close in four months today as banking shares were sold on persistent worries that more financial firms would tap the market for equity financing and as a stronger yen hurt shares of exporters.

The benchmark Nikkei fell 1 percent to 9,401.58, its lowest finish since July 17. The broader Topix declined 1.1 percent to 829.22. Tokyo markets were closed for a holiday on Monday.