U.S. stocks open lower after setback in Greek debt talks

U.S. stocks opened lower on Wednesday, as a setback in Greece's debt talks weighed on investors sentiment, amid domestic data.

Greek Prime Minister Alexis Tsipras joined a new round of crucial talks in Brussels on Wednesday in the final stretch to reach a deal on the Greek debt by June 30 and avert a Greek default and Grexit amidst renewed tensions with Greece's international lenders.

It was reported earlier that Tsipras had told associates that Greece's proposed measures had not been accepted by creditors.

On June 30, the extension of Greece's second bailout will expire. On the same day, Athens needs to repay some 1.5 billion euros (1.69 billion U.S. dollars) of loan installments to the International Monetary Fund.

In economic news, the final read on first-quarter gross domestic product (GDP) in the United States decreased at an annual rate of 0.2 percent, in-line with expectations and above a previous estimate of a 0.7 percent contraction, the Department of Commence said Wednesday.

The Federal Reserve has said it remains data-dependent and expects to raise interest rates when it sees a sustained rebound in the economy.

Jerome Powell, a Fed governor, on Tuesday said the U.S. economy could be ready for a first interest rate hike in September and there would be two increases by the end of the year.

Shortly after the opening bell, the Dow Jones Industrial Average decreased 66.80 points, or 0.37 percent, to 18,077.27. The S&P 500 lost 3.44 points, or 0.16 percent, to 2,120.76. The Nasdaq Composite Index was down 9.23 points, or 0.18 percent, to 5,150.87.

U.S. stocks closed higher on Tuesday, with the Nasdaq Composite Index eclipsing previous day's closing record, as Greek debt talks continue on the positive track. Endi