Stocks lose more ground as Greece remains centre stage

The FTSE 100 has opened lower once again after US markets suffered their worst one day drop so far this year on continued concerns over a Greek default.

Following a 2.1% drop for the S&P 500 overnight, investors continued selling risk assets on a day in which Greece is unlikely to be able to pay the €1.5bn due to the International Monetary Fund. The FTSE 100 fell 0.7% to 6,592, following on from yesterday's 2% fall, as Greece and its creditors remain at loggerheads despite the former's bailout package expiring today. Crisis point? Four new unknowns for Greece Overnight, the S&P 500 and Dow Jones each recorded their worst one-day drop since 9 October 2014, according to Reuters, as the European Central Bank froze funding for G...