US stocks erased some losses

US stocks erased most of their early losses, even turning them into positive briefly today after the International Monetary Fund said it was ready to help Greece if asked.

Cypriots rejected the terms of the bailout from creditors on Sunday, but investors remain optimistic that a deal can be reached to prevent the country's exit from the eurozone.

Stock markets worldwide fell, but analysts said the declines were less than expected, due to expectations that the European Central Bank will act to limit any damage.

"The referendum did not really change anything in the negotiations," said Mark Lushi, chief investment strategist at Janney Montgomery Scott in Philadelphia.

The majority view is that there is still room for a deal to keep Greece in the eurozone.

The Governing Council of the ECB held a conference call on Monday afternoon to discuss the provisions of emergency funding for banks in Greece. A new deal for Greece to meet the eight Championship July 20 deadline to repay $ 3.9 billion in bonds the ECB.

Prime Minister Alexis Tsipras said his government is ready to return immediately to negotiations with creditors.

Prospects for economic growth in the US received a boost after the Institute for Supply Management data showed the pace of growth in the US services rose in June after dropping in May.

The Fed said it will raise rates only when he sees sustainable economic recovery.