Greek Stock Market Carnage Enters 2nd Day

US investors aren't completely immune
By Rob Quinn,  Newser Staff
Posted Aug 4, 2015 4:03 AM CDT
Greek Stock Market Carnage Enters 2nd Day
An employee of the Stock Exchange opens a door next to a board showing share prices in Athens.   (AP Photo/Petros Giannakouris)

At this rate, Greek banks may soon start to look like a canny investment. The Athens Stock Exchange had its worst drop on record yesterday when it reopened after being closed for more than a month, and things have not improved in early trading at the main Greek stock market today, reports Reuters. The index as a whole is down 4%, but the four main banks are down almost 30%.

That is the maximum single-day fall allowed, and comes on top of a 30% fall yesterday. But US investors don't have too much to worry about, reports the AP: There is a good chance your mutual fund includes some Greek holdings, but even funds that specialize in emerging markets typically have only around 0.5% invested in Greece. (More Athens stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.