The Dow Jones Industrial Average fell 1 percent in midmorning trading to 17,728 following European stocks, which declined amid a collapse in the talks between Greece and its creditors.
Retail shares in the U.S. were mostly swimming in red with declines ranging between 0.5 percent and 1.9 percent. Shares of Wal-Mart Stores Inc. were off 0.4 percent to $72.14 while Macy’s Inc. fell 0.9 percent to $68.96. Abercrombie & Fitch Inc. shed 1.9 percent to $21.98.
The Dow has gained 3.2 percent over the past six months and the WWD Global Stock Tracker has trended up 6.5 percent, with 62 of the component stocks showing gains and 38 declining.