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.)