Global stocks take a hit on Greece bank, bourse holiday

DJIA – 350.33 (-1.95%)
NASDAQ -122.04 (-2.4%)
Germany DAX -409.23 (-3.56%!!)
France CAC -189.35 (-3.74%)
UK FTSE -133.22 (-1.97%)

Best analysis we see is that no one knows for certain the fallout from Greece in the rest of Europe.  General perception is that others on EU’s periphery with weak sovereign finances, i.e. Italy, Spain, Portugal might see fit to follow suit if Greece opts for exit/monetary sovereignty – or to use it as a cudgel with respect to their own dismal financial picture.  Such concerns send ripples through financial markets everywhere, hence the big drops per above particularly in Germany and France.

 

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