Stocks closed down on Monday but staged a comeback in late trade after fears of possible Greek debt default diminished on news of a possible deal over bailout funds.

Based on the latest available data, the Dow Jones industrial average <.DJI> was down 108.38 points, or 0.94 percent, at 11,400.71. The Standard & Poor's 500 Index <.SPX> was down 11.99 points, or 0.99 percent, at 1,204.02. The Nasdaq Composite Index <.IXIC> was down 9.48 points, or 0.36 percent, at 2,612.83.

(Reporting by Caroline Valetkevitch; Editing by Kenneth Barry)