NEW YORK — Stocks in the U.S. fell broadly following drops in overseas markets as Greeks voted to reject creditor conditions for more loans, but the losses weren’t as steep as many had feared.

With time running out for Greece to strike a new deal and its banks desperately short of cash, a wave of selling that started in Asia early Monday spread to Europe, then the U.S. By the end of the day, nine of the 10 industry groups in the Standard and Poor’s 500 index were down. But the index itself had fallen a modest 0.4 percent.

Still, many investors were clearly nervous, putting money into assets considered safe bets in turbulent times such as U.S. government bonds. A rout in the stocks of oil drillers and other energy companies fed the selling as the price oil plunged nearly 8 percent.

In a Sunday referendum on creditor demands for spending cuts and tax hikes in exchange for more bailout money, 61 percent of Greeks voted “no,” a much higher proportion than anticipated. Some analysts attributed the lack of sharper sell-off in stock markets to the resignation of the Greek finance minister, which might help bailout talks resume.

The Dow Jones industrial average fell 46.53 points, or 0.3 percent, to 17,683.58. The S&P 500 gave up 8.02 points, or 0.4 percent, to 2,068.76. The Nasdaq composite fell 17.27 points, or 0.3 percent, to 4,991.94.

In Europe, Germany’s DAX fell 1.5 percent while the CAC-40 in France fell 2 percent. The FTSE 100 index of leading British shares was 0.8 percent lower.

Many in the markets fear that the Greek vote has pushed the country one step closer to leaving the euro.

Greek banks are running out of cash even after the government last week placed limits on how much depositors can withdraw. The European Central Bank has been providing emergency credit to the banks, but on Monday said it could not increase the amount offered because the banks’ collateral was weaker.

Meeting in Paris with her French counterpart, German Chancellor Angela Merkel stressed the importance of Greece taking “responsibility” for reforming its economy. Both she and French President Francois Hollande said the door was open to more negotiations. Eurozone leaders meet Tuesday to discuss the crisis.


Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.

Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.