NEW YORK (AP) — European leaders’ hard line in negotiations with Greek bondholders is driving U.S. stock markets lower as investors worry that a deal to cut Athens’ mountain of debt might fall through.
Futures for the Dow Jones industrial average are down 51 points to 12,599. The broader S&P 500 futures are down 7 points to 1,304. The Nasdaq composite is down 10 points to 2,425.
A deal with bondholders is crucial to Greece’s and the eurozone’s stability because it’s clear there’s no way Athens can ever pay back all that it currently owes. Time is running out for politicians and the banks to get it right — Greece has several billions of euros of debt coming due in March.
Most European markets suffered declines of 1 percent or more.