Record drop at European stock markets after Greek crisis

The most serious drop since 2011 has been shown at the European stock markets after escalation of the Greek crisis.

Stock market indices of all the developed countries displayed strongly marked negative dynamics yesterday, June, 29.

Measures on the capital flow restriction in Greece, a referendum on rejection of austerity policies, as well as absence of any progress during negotiations with the EU creditors have lead to the impressive loss of interest in the risky game.

Thus, the German DAX index crashed 3.5 %, and the French CAC 40 loss 3.7 %. the fall of Italian FTSE MIB and Spanish IBEX 35 made up 5.1 % and 4.5 % respectively.

The fall generated €40 bln drop in the capitalization of the European banking sector.

The US stock market also showed negative reaction to the developing crisis. The Dow Jones index lost more than 200 points intraday. S&P 500 and NASDAQ decline showed over 1 %.

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Author`s name Editorial Team