US: Stocks drop as Greece fears hover over eurozone

[NEW YORK] US stocks opened lower on Tuesday, following European equity markets downward as worries about a possible Greek debt default hovered over the eurozone.

Five minutes into trade, the Dow Jones Industrial Average was at 17,992.86, down 47.51 points (0.26 per cent).

The broad-based S&P 500 dropped 6.32 (0.30 per cent) to 2,105.41, the Nasdaq Composite Index lost 18.85 (0.37 per cent) at 5,064.08.

Equity markets in Britain, France and Germany were all lower Tuesday ahead of a deadline Friday for Greece to repay more than 300 million euros (US$328 million) to the IMF.

Greece said it submitted a "realistic" reform plan to win release of emergency funds. But official creditors in Europe and at the International Monetary Fund have been pushing for tougher reforms than those accepted by Greece's anti-austerity government.

AFP