NEW YORK (CNNMoney) -- U.S. stocks closed lower Wednesday as the euro hit a 1-week low on uncertainty over Greece's debt problems.
The Dow Jones industrial average (INDU) tumbled 97 points, or 0.7%, to end at 12,781. The S&P 500 (SPX) fell 7 points, or 0.5%, to 1,343. The Nasdaq (COMP) dropped 16 points, or 0.5%, to 2,916.
Stocks were mixed earlier in the day, as investors weighed better-than-expected European economic data and China's support for the eurozone against a lack of progress in Greece.
But the positive news was overshadowed by the fact that Greece still remains on the brink of disaster.
"As much as we'd like to ignore Greece and Europe all together, we just can't," said Kim Caughey Forrest, senior equity analyst at Fort Pitt Capital.
A much-anticipated meeting of eurozone finance ministers scheduled for Wednesday was canceled Tuesday. Instead, the Eurogroup of 17 eurozone finance ministers held a teleconference after which they said "substantial further progress has been made."
"Greece just ends up creating more problems for itself by announcing a deal without finalizing it," said Forrest.
The dollar rose against the euro, but fell versus the British pound and the Japanese yen.
Oil for March delivery rose $1.30 to settle at $102.04 a barrel.
Gold futures for April delivery gained $10.40 to end the day at $1,728.10 an ounce.
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