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At 9:42 a.m. ET (1342 GMT) the Dow Jones industrial average was down 156.73 points, or 0.88 percent, at 17,620.18. Both HarperCollins and The Wall Street Journal are owned by News Corp. Greek Prime Minister Alexis Tsipras has until midnight to propose spending-cut plans.

As for Greece, as Ambrose Evans-Pritchard noted in The Daily Telegraph, we may have reached “a cataclysmic end that nobody planned, nobody seems able to escape, and that threatens to shatter the great European order in the process”. However it’s unlikely to...

China’s CSI300 index was up 1.6 percent and the Shanghai Composite Index had gained 0.6 percent. An estimated 80 percent of transactions on Chinese stock markets involve such investors, many of whom tend to make investment decisions based on price movements rather than on...