Stocks Opened Lower on Greece Talks

U.S. stocks opened lower on Tuesday as investors worried about the outcome of the Greece talks and continued volatility in currency markets. The Dow Jones Industrial Average lately lost 88.62 points, or 0.49%, to 17,951.75. The S&P 500 fell 10.39 points, or 0.49%, to 2,101.34. The Nasdaq Composite dropped 30.66 points, or 0.60%, to 5,052.27.

Greece must repay four loans totalling 1.6 billion euros ($1.8 billion) to the International Monetary Fund this month, starting with a 300 million euro payment on June 5. Failure to reach agreement this month could trigger a Greek default and lead to the imposition of capital controls and a potential exit from the euro zone.

HSBC Holdings Plc (HSBA.L) could announce thousands of job cuts at a strategy day next week, Sky News reported on Monday, part of chief executive Stuart Gulliver’s overhaul of Europe’s biggest bank. An estimated 10,000 to 20,000 jobs will be axed, Sky News said, citing unidentified sources.

Intel Corp’s $17 billion purchase of programmable chip maker Altera Corp is a costly defensive move to ward off rivals in the prized datacenter business it dominates, analysts said on Monday.

Wal-Mart is raising starting wages for more than 100,000 U.S. department managers and workers in its deli and other specialized departments.