"You wonder when people are going to look beyond Greece to the real issue, which is Italy"
- Jeffrey Sica, president and chief investment officer of Sica Wealth Management
U.S. stocks declined on Monday, snapping a three-day winning streak, after the meeting of euro zone ministers was postponed because of Greek reluctance to commit to reforms.
The Standard & Poor's 500 lost 0.04%, or 0.57 points, to 1,344.33. The Dow Jones Industrial Average slid 0.13%, by 17.10 points, to 12,845.10. The Nasdaq Composite Index went down by 0.13%, or 3.67 points, to 2,901.99.
"Markets are not a very patient beast," said Michael A. Gayed, chief investment strategist in New York at Pension Partners LLC. "When you have these talks that the Greece situation is going to be resolved, then, it gets postponed to next week and the week after, markets get impatient."
"My question is when is it really going to be over for Greece," said Jeffrey Sica, president and chief investment officer of Sica Wealth Management. "The situation isn't good; it's not going to get better, and you wonder when people are going to look beyond Greece to the real issue, which is Italy."
© Dukascopy Bank