Markets Nosedive on Greece Debt Crisis Concerns


The markets took a nose dive Monday as the crisis in Greece continued. Late in the session, Greek Prime Minister Alexis Tsipras announced on Greek TV that a "no" vote on Sunday's referendum on whether to accept the Eurogroup's tough love terms would send a message that Greece will survive no matter what. U.S. markets didn't like that message; the Dow and S&P 500 have erased all of their 2015 gains. Monday was the Dow, S&P 500 and Nasdaq's biggest loss of the year.

All 10 S&P sectors closed in the red, with financials falling 2.4%, their biggest drop since February 2014.

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As the markets closed near session lows, what can we expect following Greece Prime Minister Alexis Tsipras' interview Monday and an Iran nuclear deal deadline looming? And, we can't forget that Puerto Rico also has warned it can't repay its $72B debt as several key deadlines loom.

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