U.S. stocks moved sharply lower in early trading Monday as investors weighed the implications of an impasse between Greece and its creditors. Technology stocks were among the biggest decliners. Oil prices declined.
KEEPING SCORE: The Dow Jones industrial average was down 189 points, or 1.1 percent, to 17,708 at 10:06 a.m. Eastern Time. The Standard & Poor’s 500 index fell 17 points, or 0.8 percent, to 2,077. The Nasdaq composite fell 52 points, or 1 percent, to 4,998.
EXIT THE CHOPPER: United Technologies fell 2.6 percent after the company said it would get out of the helicopter business. The stock slid $3.07 to $114.56.
MANAGEMENT SHAKEUP: Lumber Liquidators sank 2 percent after the troubled flooring retailer said it has fired its chief merchandising officer. The company didn’t say why it was firing the executive. Shares in the company fell 40 cents to $21.09.
BUILDER MERGER: Investors welcomed news late Sunday that California homebuilders Ryland Group and Standard Pacific have agreed to merge. Ryland rose $2.19, or 5.1 percent, to $44.98. Standard Pacific gained 40 cents, or 4.8 percent, to $8.76.