US stocks edge lower in early trade as Greece talks proceed

In this July 6, 2015 photo, an American flag is draped on the exterior of the New York Stock Exchange. Chinese stocks fell Tuesday, July 7, despite government intervention and other global markets were mixed as Greece's spiraling crisis kept investors on edge. (AP Photo/Mark Lennihan) In this July 6, 2015 photo, an American flag is draped on the exterior of the New York Stock Exchange. Chinese stocks fell Tuesday, July 7, despite government intervention and other global markets were mixed as Greece's spiraling crisis kept investors on edge. (AP Photo/Mark Lennihan)

By Associated Press July 7, 2015 2 min read

NEW YORK (AP) – U.S. stocks are edging lower in early trading as European leaders meet to discuss Greece’s strained finances.

Materials stocks fell more than the rest of the market. Mining company Freeport-McMorRan dropped 5 percent, the most in the S&P 500.

KEEPING SCORE: The Dow Jones industrial average was down 112 points, or 0.6 percent, to 17,574 as of 10:07 a.m. Eastern time.

The Standard & Poor’s 500 index lost 12 points, or 0.6 percent, to 2,056, while the Nasdaq composite fell 48 points, or 1 percent, to 4,942.

GREECE: Greece and its creditors are holding talks in Brussels on Tuesday to discuss how to keep the country from falling out of the euro. Analysts say Greece has little time left before its banks run out of cash. The European Central Bank has refused to increase the emergency credit the banks need to cope with withdrawals.