Stocks opened lower on Monday after more worrying headlines from Greece crossed over the weekend and economic data missed forecasts. Near 11:10 a.m. ET, the Dow was down 116 points, the S&P 500 was down 10 points, and the Nasdaq was down 33 points. The Dow fell as much as 200 points earlier. Stocks closed lower on Friday, and the S&P 500 and the Dow saw their biggest percentage drops of the week. On Sunday night, Greece's talks with creditors collapsed again after less than an hour of talks. Greek stocks tumbled and government bonds sold off. Last week, the IMF walked out of negotiations, and euro zone officials reportedly discussed a "Plan B" for the first time. Economic data out today was mixed. The June reading of Empire State Manufacturing activity posted a huge miss, coming in at -2, versus expectations for a reading of 6. Industrial Production fell 0.2% (versus +0.2% expected) in May and capacity utilization fell to 78.1% (versus 78.3% expected.) Homebuilder sentiment beat expectations in June and rose to a nine-month high. The housing market index from the National Association of Homebuilders came in at 59 (versus 56 expected.) In company news, CVS is buying Target's pharmacy business for $1.9 billion, acquiring 1,600 Target pharmacies in 46 states, United Technologies is selling its Sikorsky Aircraft unit and getting out of the helicopter business, and Alibaba is also launching an online video streaming service like Netflix in China in about two months. SEE ALSO: Here's your complete preview of this week's big economic events Join the conversation about this story » NOW WATCH: 5 clever iPhone tricks only power users know about
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