Donate $5/month or more today to get almost ANY thank-you gift.
The Athens stock market has reopened — having been shut for five weeks — and it has promptly plunged by more than 22 percent.
The selloff is hardly a surprise since bank shares make up 20 percent of the main Athens index, and they’ve been hammered in this crisis. But the sharp fall in share prices also reflects anxiety about the third bailout deal, agreed on in principle by the government and its creditors last month.
Over the weekend, the ruling Syriza party postponed an internal vote on whether it should accept the deal. If it doesn’t, there could be another snap election and that could mean more uncertainty for investors around the world.
“Don’t underestimate the power of Greece to rock markets going forward,”says Kathleen Brooks, a currency analyst with Forex.com.
Click the media player above to hear more.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.
Donate now to get almost any thank-you gift.