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
Greek Stock Market Reopens, Crashes
An employee of the Athens Stock Exchange cleans a door behind screens showing falling stocks in red.   (AP Photo/Petros Giannakouris)

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. (More Greek debt crisis stories.)

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