Stocks are sliding

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Stocks are lower and the euro is surging on Tuesday morning.

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Near 9:48 a.m. ET, the Dow was down 89 points, the S&P 500 was down 10 points, and the Nasdaq was down 28 points.

Stocks closed higher yesterday to start June in the green.

The euro is having a big day, rallying as much as 2% to cross the 1.11 level against the dollar.

Greece met with its creditors on Monday night and has submitted a list of reforms. But Eurogroup President Jeroen Dijsselbloem said a deal with creditors is still far, according to Bloomberg.

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The rally also came after data showed that eurozone inflation read positive for the first time since last November.

The US dollar index was down more than 1%, at around 96.17.

Auto sales data for May is rolling in, and companies are crushing estimates so far.

General Motors beat expectations with a 3% jump in sales (versus 0.1% estimated), while Ford recorded a 1.3% decline in sales, less than the 3.1% slump forecast.

At 10:00 a.m. ET, we'll get the reading on factory orders for April.

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