Sina Finance News According to news in the early morning of July 9, Beijing time, the U.S. stock market closed down on Wednesday.

Falling Chinese stock markets and the Greek debt crisis weighed on the market.

The New York Stock Exchange temporarily suspended all securities trading for some reason.

At 16:00 on July 8th, Eastern Time (04:00 on July 9th, Beijing time), the Dow Jones Industrial Average fell 261.49 points to 17,515.42 points, a decrease of 1.47%; Standard

The S&P 500 Index fell 34.65 points to 2,046.69 points, a decrease of 1.66%; the Nasdaq Composite Index fell 87.70 points to 4,909.76 points, a decrease of 1.75%.

At 11:32 a.m. ET on Wednesday, the New York Stock Exchange suspended all securities trading.

A spokesman for the New York Stock Exchange said it had encountered technical problems and was working to resolve them as soon as possible.

Trading on the New York Stock Exchange resumed at 3:10 pm Eastern Time on Wednesday.

Corporate earnings season is approaching.

Alcoa (10.5, -0.56, -5.06%) (AA) will report earnings after the market close on Wednesday, unofficially kicking off earnings season.

The decline in Chinese stocks worried investors.

China's stock market continued to fall on Wednesday, with more than 40% of listed companies suspended trading today.

The Shanghai Composite Index closed down 5.9%, having dropped more than 30% from its peak last month.

The Greek debt crisis continues to attract attention.

A Eurogroup meeting and a summit of euro zone leaders on Tuesday failed to make any progress on a rescue deal.

The European Union has given Greece a deadline on Sunday to come up with a credible reform proposal and reach a deal with international lenders or risk slipping into bankruptcy and exiting the euro zone.

Greek Prime Minister Alexis Tsipras told the European Parliament on Wednesday that the Greek government will submit a detailed reform plan in the next few days.

At the same time, Athens submitted an application for rescue funds to the European Stability Mechanism (ESM).

According to media reports, Greece has applied to the European Stability Mechanism (ESM) for a three-year loan plan on the 8th local time to repay its current debt.

Greece's banking sector and stock market remained closed on Wednesday.

U.S. stocks rallied late on Tuesday and ended higher after reports that Tsipras had made a proposal to obtain temporary financing before the end of July.

The Federal Reserve released the minutes of the latest Federal Open Market Committee (FOMC) meeting at 2 p.m. Eastern Time on Wednesday.

The minutes showed that Fed officials clearly leaned toward a "dovish" stance when discussing economic policy at the meeting, but at the same time laid the foundation for future interest rate increases.

San Francisco Fed President John Williams (56.01, -0.88, -1.55%) will deliver a speech on the economic outlook in Los Angeles.

Williams reiterated his previous view that the Fed's decision to raise interest rates needs to be "contingent on economic data."

At the same time, he said that interest rate hikes will be discussed at every Federal Open Market Committee (FOMC) policy meeting; but there are no convincing signs that inflation has bottomed out.

Earnings season is coming.

Alcoa (AA) will release its earnings report after the market close today, unofficially kicking off its second fiscal quarter corporate earnings report.

The market consensus expected Alcoa to earn 23 cents per share in the second quarter.

Specialty chemicals manufacturer WD-40 (WDFC) will also announce financial results after today's close. The market average estimate is that the company's third-quarter earnings per share are 77 cents.

Overall, analysts believe corporate earnings will be weak in the quarter.

Analysts at London Capital Group said in a research report: "For U.S. stocks whose value is already above average, slowing earnings growth will be another headwind they are about to face. Other unfavorable factors include the debt situation in Greece, the decline in China's stock market and

Uncertainty over the timing of the Federal Reserve's first interest rate hike since the 2008 financial crisis, among other factors. "In terms of individual stock news, Microsoft (44.24, -0.06, -0.14%) shares fell.

According to "Dow Jones News", Microsoft [Weibo] announced that it will restructure its phone hardware business and will record impairment changes of approximately US$7.6 billion and cut up to 7,800 positions, including as many as 2,300 positions in Finland.

Tesla (254.96, -12.92, -4.82%) (TSLA) shares fell after brokerage Pacific Crest downgraded the stock to "equal weight" from "overweight" due to concerns that its stock price is too high.

JPMorgan Chase (JPM) shares fell after the Wall Street Journal, citing people familiar with the matter, said the bank wanted to pay at least $125 million to resolve an investigation into its credit card problems.

U.S.-listed Barclays (BCS) rose after chief executive Antony Jenkins resigned.