Stocks under pressure as Greece set to return to polls

US stocks slumped overnight, pressuring the Dow Jones Industrial Average near to a four-month low, as political concerns in Greece continued to cloud the outlook for the global economy.

The Dow closed 0.5% lower at 12,632, while the S&P 500 ended the session down 0.57% at 1,331. Asian markets took more of a hammering overnight, with the Hang Seng down more than 3% to trade at 19,281, the Shanghai market falling 1.10%, and Japan’s Nikkei down 1.12%. European markets closed lower after Greek leaders announced they have been unable to form a coalition government and will have to hold a new round of elections. Evangelos Venizelos, leader of the Socialist Pasok party, said he was unable to convince radical left-wing coalition SYRIZA or the Democratic Left to reach an agre...