U.S. stock-index futures slipped after Greece rejected debt bailout terms, throwing the future of the country's euro zone membership into further doubt.
Futures for the Dow Jones Industrial Average lost 0.8 percent to 17,508, while those for the S&P 500 index fell 0.8 percent to 2,053. Futures for the Nasdaq-100 index slid 0.8 percent to 4,395.
Greece's finance minister quit and Prime Minister Alexis Tsipras said his government was ready to return immediately to negotiations with creditors in a bid to open shuttered banks.
A larger-than-expected 61 percent of Greek voters chose not to accept proposals for spending cuts and tax increases.
German Chancellor Angela Merkel and counterparts across Europe must decide if a financial rescue of the region’s most indebted country is still possible.
Merkel and French President Francois Hollande called for an emergency leaders’ summit tomorrow. The pair will first meet Monday in Paris at 6:30 p.m. to discuss Europe’s next move.
DATA:
The Institute for Supply Management's services index data is expected at 10 a.m. The data are expected to show that the pace of growth in the U.S. services sector slowed in June from the previous month.
OTHER MARKETS:
Stocks and bonds in Europe fell on Monday, but the decline was fairly muted. The Stoxx Europe 600 lost 1 percent, while Germany’s DAX fell 1.6 percent and France’s CAC-40 dropped 1.9 percent. The euro initially tumbled before paring losses, recently trading 0.8 percent lower against the dollar at $1.1026.
MOVERS:
Bank of America (NYSE:BAC) slipped 1.1 percent as financials fell across the globe following the result of the Greek referendum. Citigroup (NYSE:C) lost 1.3 percent, while JPMorgan declined 1.1 percent.
Humana (NYSE:HUM) rose 1.6 percent after Aetna (NYSE:AET) agreed to buy the rival health insurer for about $35 billion. Aetna fell 6 percent.
Allergan (NYSE:AGN) shares may be active after the Botox maker said today that it has agreed to buy Oculeve, a maker of novel dry-eye disease treatments, for $125 million in cash.
COMMODITIES:
Crude oil plunged 4.4 percent to $54.41 a barrel ahead of tomorrow’s deadline over nuclear deal with Iran.
Gold futures were virtually unchanged at $1.163.40 an ounce.