Greek Stock Market Reopens, Crashes
Bank shares fall as low as they can go
By Rob Quinn,  Newser Staff
Posted Aug 3, 2015 4:48 AM CDT
Updated Aug 3, 2015 6:50 AM CDT
An employee of the Athens Stock Exchange cleans a door behind screens showing falling stocks in red.   (AP Photo/Petros Giannakouris)
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(Newser) – The main Greek stock market reopened today after being closed for more than a month and shares in major banks performed as expected: as badly as possible. The country's four main banks dived 30% in early trading, which is the maximum single-day fall allowed, the BBC reports. The Athens Stock Exchange fell more than 22% soon after the bells rang to begin trading for the first time since June 26, reports the Telegraph, which notes that analysts had warned of a "bloodbath." The slide, the worst in the exchange's history, happened within minutes and experts tell Reuters that despite the bailout deal, the slide appears set to continue unless buyers emerge.

 

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