U.S. Stock Futures Show Large Losses As Greek Crisis Intensifies

By Michael KitchenMarketWatch Pulse

U.S. stock-index futures were quoted significantly lower early Monday, pricing in an increased likelihood that Greece could default on its debts after Athens announced a referendum on the nation's bailout terms. About 12 hours ahead of the open of U.S. markets, futures for the S&P 500 were off 1.6%, while quotes for the CBT eMini Dow Jones Industrial Average futures and eMini Nasdaq 100 futures were down 1.4% and 1.5%, respectively. Still, the trio were off their earlier lows and could change considerably ahead of the start of trade in New York, especially after the European markets open. The Dow industrials ended Friday trade up 0.3%, while the Nasdaq Composite lost 0.6%, and the S&P 500 ended flat.

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