Stocks Started Lower on Greece Concerns

Stocks started modestly lower Monday as concerns over Greece’s teetering finances returned to the forefront and after equities suffered their worst quarter since 2008. The Dow Jones industrial average lately was down 64.70 points, or 0.59 percent, to 10,848.68.The S&P 500 fell 6.72, or 0.59 percent, to 1,124.70. The Nasdaq lost 19.02, or 0.79 percent, to 2,396.38.

Greece’s economy will remain in recession next year, with rising unemployment underscoring the difficulties the country faces in pulling its economy out of a debt crisis that has roiled markets around the world. A day after it conceded it had missed its 2011 targets, Greece’s debts are projected to reach 172.7 percent of gross domestic product in 2012. The deficit next year will drop to 6.8 percent, slightly above the 6.5 percent originally agreed with international bailout creditors.

Britain’s prized triple-A sovereign debt rating could come under pressure if the government strays from its path of public deficit cuts in the face of weaker growth, credit agency Standard & Poor’s said on Monday.

Apple is expected to announce a new, more powerful version of its wildly popular smartphone this week — more than a year after it unveiled the iPhone 4.

Starbucks Corp. (NasdaqGS:SBUX) on Monday introduced the “Create Jobs for USA” fund in partnership with Opportunity Finance Network, a group of private financial institutions that provide affordable loans to low-income people.

ABC News is joining forces with Yahoo to deliver more digital news content to their audiences. With the deal, the companies say ABC News content will be prominently featured on the Yahoo News and Yahoo front page.

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