Stocks fell after Greek ‘No’ Vote

U.S. stocks ended slightly lower on Monday as global equities came under pressure after Greece on Sunday rejected its international lenders’ bailout terms and moved closer to a potential exit from the eurozone. The Dow Jones industrial average fell 46.53 points, or 0.26%, to 17,683.58. The S&P 500 lost 8.02 points, or 0.39%, to 2,068.76 and the Nasdaq Composite dropped 17.27 points, or 0.34%, to 4,991.94.

Greek Prime Minister Alexis Tsipras told European Central Bank President Mario Draghi during a phone call on Monday that there was an immediate need to lift capital controls in Greece, a government official said. Tsipras also discussed the liquidity situation of Greek banks with the ECB chief.

The International Monetary Fund told Greece on Monday it could not provide funds to countries that had missed payments due to the international lender, an IMF representative said.

Oil prices suffered their biggest selloff in five months on Monday, falling as much as 8 percent. U.S. crude settled at $52.53 a barrel, down $4.40 or 7.7 percent, from its settlement on Thursday and below the 100-day moving average.

Starbucks Corp. will raise prices on some drinks by 5 cents to 20 cents beginning Tuesday, a move that the company said may increase the average amount customers spend by about 1 percent.

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