Greek stocks fall sharply on banking sector meltdown

Athens (AFP) – Greek stocks tumbled on Monday to close nearly eight percent lower, with bank shares losing almost a quarter of their market value amid concerns over the future of government reforms.

The general index on the Athens stock exchange closed down 7.9 percent at 464.23 points — a 25-year-low — while banks suffered a 24.3-percent average drop.

Top companies such as the Public Power Corporation, the Piraeus Port Authority and prominent construction firms lost between four and and 12.5 percent. Continue reading

U.S. Stocks Tumble as Volatility Returns

On Thursday, fears seemed to prevail once again, with the Dow Jones Industrial Average tumbling more than 300 points, reversing Wednesday’s big rally.

It was the third move in a row of more than 200 points by the blue-chip index—a roller-coaster ride that ranks as the most volatile stretch for the Dow since August 2011 Continue reading