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Stocks In Athens Plunge, But Greece ETF Shrugs It Off

Global X FTSE Greece 20 ETF ETF:GREK, Market Vectors Egypt Index ETF ETF:EGPT - Stocks In Athens Plunge, But Greece ETF Shrugs It Off

Monday is the first day in five weeks that the Athens Stock Exchange opened for business. After that long hiatus, Greece's major equity bourse plunged at the open, tumbling from just under 791 at the open to 615.6 in a matter of a minutes. That is a 22 percent drop, or two percentage points above the definition of a bear market, in almost the blink of the eye.

The Global X FTSE Greece 20 ETF GREK 0.31% is receiving better treatment in the U.S. Proving that timing is everything, traders have bid up Greek stocks as the session has gone along, trimming the day's loss on the ASE to 16.2 percent at time of writing...


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