ATHEX: Stocks nosedive on imported fears
There was little doubt that traders would panic once the coronavirus epidemic claimed its first victims in Europe, but Monday's nosedive at Athinon Avenue wiped about 4 billion euros off the value of the Greek stock market, with the imported concerns from Italy hitting bank stocks hardest.
The Athens Exchange (ATHEX) general index ended at 818.35 points, shedding 8.36 percent from Friday's 893.03 points. The large-cap FTSE 25 index contracted 7.43 percent to 2,073.73 points.
Domestic analysts branded Monday's session a "Black Monday," as it took the benchmark to its biggest daily drop since June 24, 2016, the day of the Brexit referendum in the UK, and to new six-month lows.
The extreme reaction in the Greek market produced a decline that was more than twice that of the Milan stock exchange yesterday, with the high turnover - over 180 million euros - pointing...