* U.S. stocks fall as U.S. fiscal talks set to resume
* Market focus on outcome of Greek aid negotiations
* Euro edges down vs dollar, off from 7-month high vs yen
NEW YORK, Nov 26 Stocks around the world and the
euro fell on Monday as investors expressed caution while
awaiting the outcome of the latest round of talks to release
emergency aid to keep Greece financially afloat.
A lack of progress in talks among U.S. lawmakers over how to
avoid the harsh tax increases and government spending cuts due
to start coming into effect Jan. 1 also weighed on markets, with
Wall Street following the global trend at the open.
Stocks, commodities and the euro zone single currency were
steady or slightly weaker following strong gains seen over the
past week as investors priced in the likelihood of a Greek deal.
"On the most pressing issue for the markets into year end,
that of the tax and spending issues in the U.S., the Sunday
morning talk shows didn't reveal that we're on the cusp of a
deal as more horse trading will go on in the weeks to come,"
said Peter Boocvkar, managing director at Miller Tabak & Co in
The Dow Jones industrial average was down 90.38
points, or 0.69 percent, at 12,919.30. The Standard & Poor's 500
Index was down 8.90 points, or 0.63 percent, at
1,400.25. The Nasdaq Composite Index was down 10.96
points, or 0.37 percent, at 2,955.89.
The MSCI world equity index, which gained
nearly 4 percent over the week to Nov. 23 for its biggest weekly
gain since April, was down 0.3 percent to stand at 328.95.
"Last week was very good for the markets and it seems that
investors are taking a breather ahead of the euro zone meeting,"
said Koen De Leus, senior economist at KBC in Brussels.
Euro zone finance ministers and the International Monetary
Fund began their third meeting in as many weeks on Monday to try
to seal a bailout deal for Greece but must still agree how to
cut the country's debt pile to a more sustainable level.
The euro was last down 0.2 percent against the dollar