1st LD Writethru: U.S. stocks retreat amid Greece concerns

U.S. stocks slid after wavering below flatline in most of the trading session on Monday, as investor sentiment was dampened by rising tensions surrounding Greek debt negotiations.

The Dow Jones Industrial Average lost 95.08 points, or 0.53 percent, to 17,729.21. The S&P 500 dipped 8.73 points, or 0.42 percent, to 2,046.74. The Nasdaq Composite Index was down 18.39 points, or 0.39 percent, to 4,726.01.

The new Greek government would stick to its promise of an anti- austerity agenda made before election and would not request an extension of the current bailout program which expires on Feb. 28, Prime Minister Alexis Tsipras said Sunday in a closely-watched policy statement addressed to the parliament.

Athens would instead seek a bridge agreement with international lenders until a new comprehensive deal will be signed after a renegotiation of the country's debt load, he added. The remarks brought Greek stocks down nearly 5 percent, while European equities ended mostly in the red.

On Friday, Standard & Poor's downgraded Greece's long-term rating to B-minus from B, exerting sorts of uncertainties on European economy.

U.S. stock markets were also under pressure from weak China trade data, which sparked worries about one of the main growth engines of the world.

China's total trade volume stood at 2.09 trillion yuan (about 341.16 billion U.S. dollars) in January, down 10.8 percent year on year, with exports dropping 3.2 percent and imports slumping 19.7 percent, said the General Administration of Customs Sunday.

More than 60 companies in the S&P 500 will report quarterly results this week, but Monday's schedule is light.

The U.S. equities drifted lower despite strong jobs data Friday, with the blue-chip Dow snapping a four-day winning streak, as worries about an earlier Federal Reserve rate hike weighed on market sentiment. Endite