(CNBC) — U.S. stocks closed lower on Monday as investors remained anxious over stalled Greece debt negotiations and the upcoming two-day Federal Reserve meeting.
"Right now the key driver in the U.S. and international markets seems the breakdown in the Greece negotiations," said Art Hogan, chief market strategist at Wunderlich Securities.
The major averages pared losses after testing lows hit last week. The Nasdaq Composite closed 0.4 percent lower after falling more than 1 percent in the open as the iShares Nasdaq Biotechnology ETF (IBB) declined and Apple edged lower.
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