US stocks head lower following weak Chinese trade report and concerns over Greece

Energy Associated Press

U.S. stocks headed lower early Monday, following declines in overseas markets on weak Chinese trade data and mounting worries about Greece's finances.

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KEEPING SCORE: The Dow Jones industrial average fell 60 points, or 0.3 percent, to 17,764 as of 10:20 a.m. Eastern time. The Standard & Poor's 500 slipped four points, or 0.2 percent, to 2,052, while the Nasdaq composite fell seven points, or 0.1 percent, to 4,738.

MICKEY D: Before the market opened, McDonald's reported that a key measure of global sales shrank last month, as sales slumped across the Middle East, Africa and Asia. The world's biggest hamburger chain dropped 95 cents, or 1 percent, to $93.05 in early trading.

SUPERHERO: Hasbro jumped $3.50, or 6 percent, to $59.24 after the toy company turned in stronger quarterly results. Sales of toys geared toward boys increased 21 percent, led by Transformers, Nerf and Marvel-brand action heroes. Hasbro also raised its dividend and expanded plans to buy back its own shares.

EUROPE: Major markets in Europe fell. France's CAC-40 lost 1.3 percent, and Germany's DAX fell 1.9 percent. Britain's FTSE 100 was down 0.5 percent.

GREECE, AGAIN: On Sunday, Greece's new prime minister, Alexis Tsipras, set his government on a collision course with the country's creditors. Tsipras proclaimed an end to a regimen of budget cuts and tax increases and said he would push for a "bridge agreement" that would give Greece and its creditors time to negotiate a new lending arrangement by June. Greece and its European creditors were expected to discuss the issue later this week.

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CHINA TRADE: Investors reacted to Chinese trade data released Sunday that showed imports fell nearly 20 percent over a year earlier. Exports were also weak, dropping 3.2 percent from a year earlier, heightening concerns about the world's second-largest economy.

ASIA'S DAY: Hong Kong's Hang Seng fell 0.6 percent while South Korea's Kospi slipped 0.4 percent. Australia's S&P/ASX 200 lost 0.1 percent. Benchmarks in Taiwan, Singapore and New Zealand also closed lower. Japan's Nikkei 225 added 0.4 percent.

ENERGY: U.S. crude oil rose $1.63 to $53.32 a barrel on the New York Mercantile Exchange. The contract rose $1.21 to close at $51.69 a barrel on Friday.

BONDS: In the market for U.S. government bonds, the yield on the 10-year Treasury note fell to 1.91 percent.