loan repayment

Global stock markets cautious amid Greek debt talks

Greece faces a deadline next week for a big loan repayment, and could default if it can't agree with its creditors on what reforms it needs to make.

The Dow Jones industrial average fell 67 points, or 0.4 percent, to 18,076 as of 9:35 a.m. Eastern time Wednesday.

The Standard & Poor's 500 index gave up three points, or 0.2 percent, to 2,120.

The Nasdaq composite decreased 10 points, or 0.2 percent, to 5,150.

Homebuilder Lennar jumped 7 percent after reporting earnings that easily beat the estimates of Wall Street analysts.

Greece debt crisis: EU leaders step up efforts for deal

French President Francois Hollande has warned that "everything must be done" to keep Greece in the eurozone.

Greek PM Alexis Tsipras set out new proposals in a bid to prevent a default on a €1.6bn (£1.1bn) IMF loan.

Greece must repay the loan by the end of June or risk crashing out of the single currency and possibly the EU.