U.S. stocks took a hammering again today as Greece struggled to convince international creditors that it can meet its debt obligations in return for more bailout cash to avoid running out of funds as soon as next month. Stocks are on track for the first down day in six, weighed by indications Greece was on the brink of default. The Dow Jones Industrial Average DJIA -1.81% tumbled 165 points, or 1.4%, to 11,440. The S&P 500 SPX -1.77% lost 17 points, or 1.4%, to 1,199. The Nasdaq Composite COMP -1.07% fell 24 points, or 1.6%, to 2,580. Over the weekend, the cabinet of Greek Prime Minister George Papandreou met to discuss concerns over the nation's ability to meet fiscal targets as international lenders withheld the next disbursement of aid until Greece comes up with a credible deficit-cutting plan. Treasurys and gold gained. A Greek default looks to be imminent and the markets seem to be bracing for the event.
