Wall Street opens lower as Greek talks drag on

MATTHEW CRAFT AP Business Writer Published:

NEW YORK (AP) -- Stocks are opening lower as talks dragged on between Greek political leaders over a fresh austerity package required for the country to get more bailout loans.

Minutes after the opening bell Monday, the Dow Jones industrial average is down 42 points to 12,819. Intel led the Dow lower, dropping 1.2 percent.

The S&P 500 fell 5 points to 1,339. The Nasdaq composite fell 17 points to 2,888.

The declines follow a big gain Friday after a surprisingly good U.S. employment report.

Greece's Prime Minister Lucas Papademos will meet with negotiators from the European Union and the International Monetary Fund in the afternoon and then with the leaders of the three parties backing his coalition government. The Greek parliament must sign off on any deal.