Greek Uncertainty Ripples Through Markets as Deal Hope Fades

Stocks were down across the board in midday trading Monday as a Greek exit from the eurozone looks more and more likely. The S&P, Dow Jones Industrial Average and Nasdaq all moved into the red after Greece voted 'no' to bailout terms from the IMF and European creditors over the weekend. Wall Street is feeling the ripple effects of the Greek debt crisis but investors are still holding out for a last minute deal. German Chancellor Angela Merkel flew to Paris on Monday for further bailout discussions. Outspoken Greek Finance Minister Yanis Varoufakis has handed in his resignation following the referendum result. His absence may allow the Greek government to compromise as creditors push for new deal terms. In the U.S., after selling 330 of its stores, discount chain Dollar Tree (DLTR) has got the green light from the Federal Trade Commission for its take over of retailer Family Dollar (FDO). The deal will be worth around $9.2 billion. Shares of Weight Watchers International (WTW) jumped around 27 percent following a report from the New York Post that an activist investor may be looking to acquire a majority stake in the company. The weight loss organization has failed to keep up with consumer fitness trends, with the stock plummeting around 84 percent in the last 12 months. Weight Watchers saw its active subscriber base drop 17 percent in the first quarter.