U.S. stocks began lower on Monday, as European leaders differed on how to confront their regional debt crisis. The Dow Jones Industrial Average lately fell 46.08 points to 13,533.39. The S&P 500 index declined 5.96 points to 1,454.19, with technology hardest hit of its 10 sectors. The Nasdaq Composite lost 20.35 points to 3,159.61.
A representative from the Greek Ministry of Finance on Monday denied reports that the country must close a 20 billion euros ($26 billion) budget shortfall to meet requirements from international lenders, as reported in German magazine Der Spiegel over the weekend.
German business sentiment dropped for a fifth straight month in September to its lowest since early 2010. The Munich-based Ifo institute said its business climate index, based on a monthly survey of some 7,000 firms, fell to 101.4 in September from 102.3 in August, defying expectations for a slight rise.
Toyota Motor Corp has scrapped plans for widespread sales of a new all-electric minicar, saying it had misread the market and the ability of still- emerging battery technology to meet consumer demands.
The price of oil fell below $92 a barrel on Monday, dragged down by concerns about weakening global growth and demand for crude. By early afternoon in Europe, benchmark crude was down $1.28 at $91.61 in electronic trading on the New York Mercantile Exchange.
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