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Markets: Wall Street hit by stalling Greek debt talks
Greek governments rejection of latest package of austerity measures and delay to finance ministers meeting knocks confidence.
Greek debt talks have stalled again as the government in Athens has failed to agree a fresh package of austerity measures included as part of the latest bail-out package, prompting fresh fears over the contagion effect on Wall Street and halting a three-day rally.
Talks with the Greek government continued last night (6 February) but a meeting of European finance ministers to discuss the latest deal, which would also see a new account set up for bail-out funds to limit the risk of a disorderly default has been delayed until likely the end of the week.
Benchmark US indices, which had enjoyed a broad three-day rally that maintained momentum following a strong January, ended the session broadly flat. The S&P 500 was down a fraction, losing a little less than a point to 1,344.
The Dow Jones Industrial Average lost 0.1 per cent to 12,845, while the Nasdaq Composite ended the day down by a similar percentage as it closed on 2,901.
