US losses add to market woes as shares fall further

US markets fell 2% at open, adding to the grim picture in Europe, as investors continued to fret over the future of Greece.

The Dow Jones fell 2% shortly after the opening bell, to reach 11,284.5, while the S&P 500 also dropped 2% to 1,191.52. Falls came as investors continued to fixate on Greece and how the crisis in Europe could be resolved. Piling on the pressure, the International Monetary Fund (IMF) said Greece will remain in recession for all of 2012 today, with an annual contraction of 2.5%, according to the Telegraph. The upcoming US Federal Reserve meeting on Wednesday, when policymakers are expected to reveal whether the US government will be implementing additional quantitative easing, is als...