NEW YORK—Stocks in the U.S. fell in afternoon trading Monday following sharper drops in Europe and Asia as Greeks voted to reject the spending cuts and tax increases demanded by its creditors for additional loans.
U.S. government bond prices rose as investors sought safe places to park money. A rout in the stocks of oil drillers and other energy companies also fed the selling. The price of oil plunged 7.7 percent.
Investors in the U.S. seemed to turn more optimistic earlier in the day, but then resumed their selling. Meeting in Paris with her French counterpart, German Chancellor Angela Merkel stressed the importance of Greece taking “responsibility” for reforming its economy. Both she and French President Francois Hollande said the door was open to more negotiations.
