S&P Sinks on Greece Turmoil

Standard & Poors hit a two-month low on Tuesday as U.S. investors reacted to turmoil in Greece. The Dow, Nasdaq, and European markets all opened lower on Tuesday as Greece edged closer to being kicked off the euro zone and as voters in Greece and France revolted against harsh austerity policies. On Monday the Greek government failed to form a coalition, leaving formation of a new government in the hands of Alexis Tsipras, the leader of the far-left party that came in second place in Sunday’s elections. German Chancellor Angela Merkel insisted Monday that Greece must comply with the strict terms of the November bailout—leaving many saying that the country could be expelled from the euro.