The Standard & Poor’s 500 Index fell below its average price for the past 200 days for first time since October, as commodities plunged and the Greece crisis continued.

The S&P 500 Index slipped 0.6 percent to 2,057.35 at 12:05 p.m. in New York, and earlier reached a three-month low. The Dow Jones Industrial Average retreated 119.06 points, or 0.7 percent, to 17,564.52. The Nasdaq Composite Index declined 1.2 percent. Trading volume in S&P 500 companies was 39 percent above the 30-day average for this time of day.

U.S. stocks fell on Monday after Greek voters rejected austerity measures in a referendum. Prime Minister Alexis Tsipras is in Brussels today for what could be a last chance to secure a rescue from European leaders and keep his country in the euro. Finance ministers and leaders from the region meet today, and they have all made clear the onus is on Greece to explain how it plans to pull itself out of the crisis.

 

Source : Bloomberg