Stocks fall as Greek financial situation deteriorates

Last week ended with five full days of gains. This week started with falls as worries from Greece mounted and sent US stocks tumbling Monday morning. The decline followed the move late Friday from European leaders who postponed a decision about Greece' next bailout installment until October, Western media reports.
European markets also fell broadly on Monday after a two-day meeting of the European finance minister on Saturday which ended without any real progress.
Major US stock indexes plunged more than 2 percent in early Monday trading. Banks and energy companies led the decline.
Before 11 a.m. Monday, the Dow fell more than 230 points, the NASDAQ was off 50 and the S&P 500 Index was down more than 25 points. Oil tumbled $2.66 and was last quoted at more than $20 at $1,790.
Meanwhile, President Obama was to unveil his plan on Monday to cut $3 trillion from the national debt over the next decade, mainly by taxing high-income business and individuals more in a plan called the "Buffet Rule," named for billionaire Warren Buffet who has frequently publicly argued that the rich are not taxed enough.