LONDON: U.S. stocks fell Monday, weighed down by a tumble in oil prices as well as Greek voters’ rejection of creditors’ conditions for further financial aid.
The Dow Jones Industrial Average declined 46.53 points, or 0.3%, to end at 17683.58. Stocks spent midday trading around the flat line after earlier being down by as much as 166 points.
The S&P 500 dropped 8.02 points, or 0.4%, to 2068.76 and the Nasdaq Composite Index lost 17.27 points, or 0.3%, at 4991.94.
Energy companies were the worst performing group in the S&P 500, falling 1.3%, as the price of oil fell to a nearly three-month low.
Weighing on stocks were developments in Greece, where more than 61% of the country’s citizens voted “no” in Sunday’s referendum on the terms for a bailout that included pension cuts, tax increases and other measures. The referendum was on whether to accept austerity terms demanded by Greece’s creditors in exchange for further aid. The “no” vote appeared to increase the likelihood that Greece may eventually exit the eurozone.
