Greece's top companies lost billions in market value in a matter of minutes on Monday, when the stock exchange plunged upon reopening after a five-week closure and investors worried over a dramatic new drop in the economy.
The main stock index shed over 22% soon after the open, as traders got their first opportunity since late June to react to the latest twists in the country's economic drama.
The index closed 16.2 per cent lower, with bank shares hitting or nearing the daily trading limit of a 30% loss.
Markets in the rest of the world, however, were largely unaffected, a sign that investors outside Greece have now largely cut off ties with the country after years of crisis there. European shares closed higher.
Greece's stock market and banks were closed on June 29, when the government put limits on money withdrawals and transfers to keep a run on the banks from bringing down the financial system. People were panicking over the prospect that the country could fall out of the euro after talks with creditors broke down.
Greece has since then resumed talks with creditors and reopened its banks. Strict limits on cash withdrawals remain, however.
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