Biggest Greek Stock Market Drop Since 1987 Over Surprise Election – 9 December 2014

The Athens Stock Exchange index has fallen 11.2 percent – the biggest intraday plunge since December 1987. The government announced a snap presidential election, two months ahead of time, making investors nervous over the status of EU bailout money.

Investors were spooked by the sudden presidential election call, as it could if things don’t run smoothly leave the status of Greece’s flow of money from the EU in the air. The benchmark Greek equity index sank 11.2 percent, and the country’s 10-year bond yields rose to 7.82 percent, sending Athens-listed stocks haywire.

A graph of Greece's stock market since 1987 — twin peaks that crashed in 1999 and 2008 pic.twitter.com/m9is6ufbw4

— Trista Kelley (@trista_kelley) December 9, 2014

Read the full story at: www.rt.com / link to original article

Advertisement