The U.S. stock market fell Monday on important policy developments from the U.S., euro zone, and China.
The S&P 500 Index is down 7.89 points, or 0.69 percent to 1,142,10 at 11:32 a.m. EST. The Dow Jones Industrial Average is down 46.78 points, or 0.44 percent, to trade at 10,577.91. The Nasdaq Composite is down 0.34 percent.
Early this week, market participants must grapple with important policy decisions from nations across the globe.
On Monday, euro zone finance minister will meet around 11:00 EST in Brussels to discuss possible support for Greece.
European officials are not expected to reveal specific details about the bailout plan. German Finance Minister Wolfgang Schaeuble stated that there are no new factors to motivate the announcement of a decision.
However, citing a senior EU official, Reuters reported that possible means of aid include bilateral loans and loan guarantees.
Senate Banking Committee Chairman Chris Dodd is expected to unveil his financial reform bill on Monday. The Democratic Senator is doing so without the public backing of any Senate Republicans.
The bill is expected to curb the influence of Wall Street on the New York Federal Reserve and create an agency within the Federal Reserve to regulate financial products in order to protect consumers, according to New York Times.
Over the weekend, Chinese Premier Wen Jiabao stated that the yuan is not undervalued, rebuffing international pressures to appreciate its currency. He warned of the possibility of a double dip recession for China.
Later in the week, market participants will also closely eye the central bankers of Japan and the U.S and rating agencies for their outlook on the ratings sovereign debt.