Wall Street plummeted on trading Monday. Bad day for S&P 500 and Dow Jones since October after the collapse of the talks intensified over Greece bailout fears out of the euro zone.
Citing a Reuters page, New Yok, Friday (30/6/2016), the European Central Bank froze funds to banks Greece, Athens forced the closing of the bank over the past week to keep them from collapsing.
Greece appears to confirm will go to default after a government official said the country would not pay the loan instalment of 1.6 billion euros on Tuesday.
U.s. investors are also worried about the debt problems of Puerto Rico and the bearish market in China a day before the end of the quarter and ahead of the us jobs report on Thursday and a long weekend for U.S. independence day.
"There is nothing to be a good sign for people step up and buy the dips as it has the mentality of a large part of the year," the Director of equity trading at Wedbush Securities in Los Angeles, Michael James.
"Could it be that reverses it self tomorrow? This will take a lot of good news from Greece, "he added.
The S&P and the Dow Jones Industrial Average had their worst day since October 9.The last annual decline for both indexes it. The NASDAQ has one-day percentage decline since the biggest Monday March 25.
While Greece's economy is small and the majority of u.s. companies have limited direct exposure to, investors worried about the impact on the rest of Europe if Greece out of the euro zone.
A Reuters poll of economists and traders snapping find median 45 percent probabilitythat Greece would leave the euro zone.
Chinese stocks have closed sharply weakened after days of volatile trading despite a surprise monetary easing by the central bank.
Dow Jones Industrial Average (DJIA) dropped 350,33 points or 1.95 percent to 17.59622,30,35, S&P 500 lost 43,85 points or 2.09 percent to 2.057, 64, and the Nasdaq Composite was down 122,04 points or 2.4 percent to 4.958, 47.
The financial sector S&P (SPSY) worst decline until 2.44 percent.