U.S. Equities Lose Steam as Greece Negotiates a 75% Haircut Directly From Creditors

DOW, NASDAQ, and S&P close with disappointing results.

It is much too nice of a day to watch the close.

The follies of Europe continue to dominate our markets. If the ECB does not leverage or print money to solve its sovereign debt problems i fear the global equity markets will not be able to trade upon their own merits going forward.

Greece is looking for a 75% haircut directly from creditors.  If a majority of creditors allows this then the  banks who want a 40% haircut or less will suffer more write downs. This may also be viewed as a default.

Enjoy what is left of the holiday weekend.

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