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US stocks open lower after Greeks reject terms of latest bailout package; bond prices rise

NEW YORK, N.Y. – U.S. stocks are opening lower after Greeks voted overwhelmingly to reject the terms of the country’s latest bailout.

U.S. government bond prices rose early Monday as investors sought safe places to park money.

Aetna sank 6 per cent in early trading. The company agreed last week to buy rival health insurer Humana for $35 billion.

The U.S. market is coming off its sharpest weekly decline in three months.

The Dow Jones industrial average fell 126 points, or 0.7 per cent, to 17,601 as of 9:35 a.m. Eastern time.

The Standard & Poor’s 500 index gave up 15 points, or 0.8 per cent, to 2,061. The Nasdaq composite fell 38 points, also 0.8 per cent, to 4,971.

The price of oil sank 5 per cent.

The yield on the 10-year Treasury note fell to 2.29 per cent.