(MENAFN- AFP) Wall Street stocks fell early Monday on lingering worries about a potential Greek default as investors anticipated Apple's launch of a ramped-up music service.
About 40 minutes into trade, the Dow Jones Industrial Average was at 17,822.57, down 26.89 points (0.15 percent)
The broad-based S&P 500 fell 4.24 (0.20 percent) to 2,088.59, while the tech-rich Nasdaq Composite Index dropped 15.30 (0.30 percent) to 5,053.16.
German Chancellor Angela Merkel warned Greece that it did not have much time left to secure a deal to unlock billions in rescue funds. Greece needs creditors to release money in order to meet IMF debt payments totalling 1.6 billion euros ($1.8 billion) by the end of June.
At its annual developer conference in California, Apple was expected to unveil a subscription music streaming service for $10 monthly. Shares of the tech giant slipped 0.1 percent.
Dow member General Electric dipped 0.1 percent on a Bloomberg report that it is close to selling takes in its private equity lending unit to Canada Pension Plan Investment Board and Ares Management for about $20 billion total.
Swiss agribusiness Syngenta dropped 1.5 percent as it rejected for a second time a takeover proposal from Monsanto. The latest Monsanto offer was identical to the first, but contained a $2 billion breakup fee if the deal was blocked for antitrust reasons.
Syngenta called the breakup fee "paltry" and said the latest offer remained inadequate. Monsanto advanced 0.4 percent.
Liquor giant Diageo gave back some of its gains from Friday, dropping 2.6 percent. Diageo gained 8.0 percent Friday following a report in Brazil that billionaire Jorge Paulo Lemann, who already controls AB InBev, is considering a takeover bid. Diageo declined comment.
Bond prices rose. The yield on the 10-year US Treasury fell to 2.38 percent from 2.41 percent, while the 30-year US Treasury dipped to 3.10 percent from 3.11 percent Friday. Bond prices and yields move inversely.
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