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. (Read more Athens stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
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.