Tallahassee Journal

Stocks dip as Greece talks break down

Stocks dip as Greece talks break down

Stocks are only slightly in the red despite a breakdown in talks over a European bailout of debt-ridden Greece. As of 11:54 a.m. ET, the Dow Jones industrial average, S&P 500 and Nasdaq composite are each down about 0.1%. An abrupt end to talks Monday between Greek’s new government and eurozone finance ministers hasn’t sparked a catastrophic reaction in global financial markets. AP WALL STREET F USA NY

It appears that investors around the world still are hopeful that both sides will eventually seal a deal and avoid negative outcomes such as a Greece default and an exit from the eurozone. Both sides are expected to continue talking in hopes of ending the impasse.

Greece is trying to negotiate better terms to its current bailout, which it claims has placed a burden on its citizens, while creditors want Greece to accept an extension of the current program. Time is of the essence, as Greece’s lifeline to loans will expire at month-end if a compromise is not reached. On Friday the Wall Street bull raced higher, with the S&P 500 setting a new record high and the Dow topping 18,000 for the first time this year.