Monday, August 3, 2015

After Five-Week Shut Down, Greek Stocks Crash

Greece's stock market suffered heavy losses on Monday, plunging nearly 23 percent at the open before recovering slightly, after a five-week shutdown during the height of the Greek financial crisis.

Banking shares, which make up about 20 percent of the Greece index, were particularly hard hit. National Bank of Greece, the country's largest commercial bank, was down 30 percent, the daily volatility limit. The overall banking index .FTATBNK was also down to its 30 percent limit.

(via Reuters)

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