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New York - Wall Street stocks fell early on Monday on lingering worries about a potential Greek default as investors anticipated Apple's launch of a ramped-up music service.
About 40 minutes into trade, the Dow Jones Industrial Average was at 17 822.57, down 26.89 points.
The broad-based S&P 500 fell 0.20% to 2 088.59, while the tech-rich Nasdaq Composite Index dropped 0.30% to 5 053.16.
German Chancellor Angela Merkel warned Greece that it did not have much time left to secure a deal to unlock billions in rescue funds. Greece needs creditors to release money in order to meet IMF debt payments totalling $1.8bn by the end of June.
At its annual developer conference in California, Apple was expected to unveil a subscription music streaming service for $10 monthly. Shares of the tech giant slipped 0.1%.
Dow member General Electric dipped 0.1% on a Bloomberg report that it is close to selling takes in its private equity lending unit to Canada Pension Plan Investment Board and Ares Management for about $20bn total.
Swiss agribusiness Syngenta dropped 1.5% as it rejected for a second time a takeover proposal from Monsanto. The latest Monsanto offer was identical to the first, but contained a $2bn breakup fee if the deal was blocked for antitrust reasons.
Syngenta called the breakup fee "paltry" and said the latest offer remained inadequate. Monsanto advanced 0.4%.
Liquor giant Diageo gave back some of its gains from Friday, dropping 2.6%. Diageo gained 8.0% on Friday following a report in Brazil that billionaire Jorge Paulo Lemann, who already controls AB InBev, is considering a takeover bid. Diageo declined comment.
Bond prices rose. The yield on the 10-year US Treasury fell to 2.38% from 2.41%, while the 30-year US Treasury dipped to 3.10% from 3.11% on Friday. Bond prices and yields move inversely.
