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Dow slips triple digits into red for year on Greece

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U.S. stocks plunged nearly 2 percent or more on Monday with the Dow and S&P 500 wiping out gains for the year on escalating tensions between Greece and its creditors. (Tweet this)

"I think the uncertainty around Greece is just making people skittish and we haven't had a meaningful pullback for some time," said Ben Pace, chief investment officer at HPM Partners. "It's hard for anybody to fight this uncertainty."

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"It should be a reasonably isolated situation but we don't know that for sure," he said.

A Greek official told Reuters in midday trade ET that the country will not pay its loan due to the International Monetary Fund on Tuesday.

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