Athens Stock Exchange Plunges Amid Global Sell-Off

07:14 6/8/2024 - Πηγή: iEfimerida

The Athens Stock Exchange experienced a sharp decline today, with stock prices plummeting, dragging the market down to the 1,340-point level.

The decline mirrored the negative sentiment and widespread sell-off in international markets, driven

by fears of a potential recession in the U.S. economy. The freefall in stock prices was accompanied by a surge in trading volume, with the market's total capitalization decreasing by €5.938 billion today.

The General Price Index closed at 1,341.23 points, marking significant losses of 6.27%. During intraday trading, it recorded a low of 1,320.77 points, a decline of 7.70%. This drop has trimmed the General Index's annual gains to 3.72%.

The value of transactions amounted to €235.07 million, with 54,356,506 shares traded. The large-cap index fell by 6.53%, while the mid-cap index dropped by 6.26%.

"Black Monday" on Global Markets

Simultaneously, the sell-off in global stock markets continued unabated.

Concerns are escalating due to the volatile situation in the Middle East, with the announced attack by Iran and Hezbollah against Israel, unprecedented far-right violence in Britain, and the slowdown of the U.S. economy. Additional fears that the Federal Reserve is lagging in its policy response to the economic slowdown are driving investors to the safety of bonds.

Nasdaq 100 futures fell by over 6%, and S&P 500 futures dropped by more than 3%.

In Japan, the Topix and Nikkei indices plunged by over 13%. Taiwan's benchmark index had its worst day on record, while an index of Asian stocks saw its largest drop in over four years.

In Europe, Germany's DAX was down 2.37%, and France's CAC fell by 2.61%, closing at 7,056 points. Losses in the UK and the FTSE reached 2.18%. The pan-European Euro Stoxx 600 index was down 1.8%, with similar declines in Madrid (2.8%) and Milan (1.7%).

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