Major U.S. stock indexes pared losses on Monday after Greece said it was close to a deal with the European Union, the International Monetary Fund and the European Central Bank that would allow it to receive fresh funding and avoid a default.

The Dow Jones industrial average <.DJI> dropped 106.37 points, or 0.92 percent, to 11,402.72. The Standard & Poor's 500 Index <.SPX> fell 11.04 points, or 0.91 percent, to 1,204.97. The Nasdaq Composite Index <.IXIC> lost 4.47 points, or 0.17 percent, to 2,617.84.

(Editing by Kenneth Barry)