Most U.S. stocks fell on Monday after Greek bailout talks collapsed, intensifying fears that the country could be the first to exit the euro zone.
Trading was heavy, with investors dropping riskier assets such as equities and commodities. The S&P 500 (SPX) fell nearly 1 percent and nine of the 10 main S&P sectors retreated. The only group to rise was utilities, considered a defensive play.
The European Central Bank froze funding to Greek banks, forcing Athens to shut banks for a week to keep them from collapsing.
Contracts to buy previously owned U.S. homes rose to their highest level in just over nine years in May, in a further boost to the housing market and the broader economic outlook.
The National Association of Realtors said on Monday its Pending Home Sales Index, based on contracts signed last month, increased 0.9 percent to 112.6, the highest level since April
The dollar pared gains against a basket of other major currencies on Monday, even after data showed that pending home sales in the U.S. rose to the highest level since 2006 in May, as concerns over the deadlock in Greek debt negotiations slightly eased.
The National Association of Realtors said its pending home sales index increased by 0.9% last month, compared to expectations for a gain of 1.2%.
Pending home sales in April rose by 2.7%, whose figure was revised down from a previously reported gain of 3.4%.
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