News Summary: Wall Street slides on Greece fears

News Summary: Stocks sink as Greeks paralysis drags into a second week, threatening euro exit

Associated Press

GREECE AGAIN: The ongoing political stalemate in Greece rattled financial markets Monday, driving U.S. stocks lower. The worry is that if Greece drops the euro currency, it could spread trouble throughout financial markets.

BOND MARKETS: The euro sank to a three-month low against the dollar and borrowing costs for Spain and Italy jumped. Investors plowed into the safety of the Treasury market, pushing yields to their lowest levels this year.

JPMORGAN'S MISSTEP: JPMorgan Chase's $2 billion trading loss continued to hang over banks. JPMorgan dropped 3 percent. Morgan Stanley and Citigroup lost 4 percent.

View Comments