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Global Stocks: Chinese stocks declined further
U.S. stocks ended lower on Monday amid results of Greece's referendum, in which the majority of citizens rejected austerity conditions demanded by lenders. The country's finance minister Yanis Varoufakis resigned on Monday.
The Dow Jones industrial average fell 43.49 points, or 0.25%, to 17,686.62, the S&P 500 lost 7.96 points, or 0.38% (energy companies lost 1.3% amid declines in oil prices), to 2,068.82 and the Nasdaq Composite fell 17.27 points, or 0.34%, to 4,991.94.
In Asia this morning Hong Kong Hang Seng fell by 1.38%, or 347.89 points, to 24,888.39. China Shanghai Composite Index dropped 3.62%, or 136.84 points, to 3,639.08. Meanwhile the Nikkei advanced by 1.27%, or 254.78 points, to 20,366.90.
Chinese stocks declined despite recent steps to support the market and stop this major selloff. Indices outside China mostly advanced amid considerations that losses after the Creek referendum might have been excessive.
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