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Stocks slip as traders hedge against Grexit

Threat of eurozone bank crisis, Chinese rout could awaken the rest of the sleeping US stock market

Published Sun, Jun 28, 2015 · 09:50 PM

US STOCKS slipped again last week as traders hedged against the growing possibility that Greece will exit the eurozone and the danger of a bear market in Chinese stocks spreading worldwide.

On Saturday, eurozone financial ministers broke off talks with Greek officials, more or less guaranteeing that Athens will default on a 1.55 billion euro (S$2.3 billion) payment due to bailout lender International Monetary Fund (IMF) on Tuesday.

Greece could still stay in the euro since Prime Minister Alexis Tsipras decided to …