NEW YORK (Reuters) – Stocks opened lower on Monday after a five-week rally on concerns Greece will be unable to avoid a chaotic default as it tries to reach terms on a new bailout package.
The Dow Jones industrial average (.DJI) dropped 53.20 points, or 0.41 percent, to 12,809.03. The Standard Poor’s 500 Index (.SPX) dropped 5.81 points, or 0.43 percent, to 1,339.09. The Nasdaq Composite Index (.IXIC) dropped 15.26 points, or 0.53 percent, to 2,890.40.
(Reporting By Edward Krudy; editing by Jeffrey Benkoe)
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