Euro Down at the Start of Trading in Asia

The euro is down on the first day of trading after the EuroGroup said it will not provide Greece with any further emergency funds.

The 19-nation euro dropped 1.4 percent to $1.1016 by 5:38 a.m. in Tokyo, and slid 2.3 percent to 135.12 yen.

Greece plans to close its banks Monday after Prime Minister Alexis Tsipras’ decision to call a July 5 referendum on the proposed bailout package spurred savers to withdraw money at the weekend.

-RW

UPDATE

Near 6:30 pm ET, futures for Germany's Dax index were down 542 points, or 4.7%.

The CAC in Paris was off 235 points,down 4.6% drop.

London's FTSE 100 was off 206 points, aprox. 3%.