NEW YORK (AP) — Stocks are falling shortly after the opening bell as investors remain concerned that a deal to cut Greece’s debt might fall through.
The Dow Jones industrial average is down 68 points to 12,640. The S&P 500 index is 8 points lower at 1,308. The Nasdaq composite is down 12 points to 2,772.
A deal with bondholders is considered critical to the stability of Greece and Europe’s financial system in general. Greece currently has far more debt than it can ever pay back and investors fear that if the country defaults it could trigger a financial panic. Time is running out for politicians and banks to mend the problem; Greece has several billions euros in debt due in March.
Most European markets are down about 1 percent.