Greece’s stock market closed with heavy losses on Monday after a five-week shutdown brought on by fears that the country was about to be dumped from the euro zone.
Bank shares plummeted 30 percent before loss limits kicked in to stop investors selling any more. The main Athens stock index .ATG ended down 16.2 percent, recovering slightly after plunging nearly 23 percent at the open.
It was the worst daily performance since at least 1985 when modern records began, including a 15 percent fall when Wall Street crashed in 1987.
“The market tanked, as expected,” said Takis Zamanis, chief trader at Athens-based Beta Securities.
Banking shares, which make up about 20 percent of the Greece index, were particularly hard hit. The overall banking index .FTATBNK was down to its 30 percent daily…
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