On Wall Street, the heaviest declines this year – Banker

American stock markets lost more than 2%, which was the heaviest
 reduction in share prices since the beginning of the year, resulting in the S & amp; P500 found himself
 the lowest in nearly three months. “Guilty” of course, it was Greece, though so
 really deeper correction on Wall Street belonged for a long time.

 

On Monday, the three main New York indexes moved
 uniform motion. There was only one direction: down. Since opening lower and lower.
 Daily minimum fell at the close of trading. The Dow Jones lost 350 points,
 loss ended the day 1.95%. S & amp; P 500 fell by 2.07%, going down to 2.058
 points – the lowest closing price since April 3. Nasdaq slumped by 2.4%
 and for the first time since May found below 5,000 points.

 
 
 
 

The reason, or if you will – excuse – for sale
 expensive near-record US equities were one and called
 “Greece”. It’s a catch-opened joint-stock portfolios of investors who preferred
 Limit your exposure to risky assets and, like the Greeks rushed to the
 cash.

 

Such were the consequences of breaking “talks last chance”
 Greek government of the Eurogroup, which resulted in the closure of banks and Athens
 exchanges and the introduction of capital controls. Optimists struck reporter
 “The Wall Street Journal,” which one of the Greek officials said that
 Greece fails to pay the installment loan Tuesday from the International Fund
 Monetary. In this context somewhat surprising that the agency Standard & amp; Poor ”
 downgraded Greece’s only one step (from CCC to CCC- with a view
 negative), rather than give the country the only senses the note: “D” (or bankrupt).
 

Americans and so reacted more cautiously than the stock exchange
 in Europe, where there was a really serious sell-off of shares. Declines in stock markets
 the euro area exceeded the 3%: DAX went down by 3.6%, CAC40 3.7%, Spanish
 IBEX35 by 4.7% and the Italian FTSE MIB and the Portuguese PSI20 fell 5.2%.
 

We do not know how to react to appeal the stock market closed in
 Athens, but the scale of the potential collapse unless well have given ETF units
 quoted in New York. Rates of Global X FTSE Greece 20 ETF declined by 20% aligning
 Bottom of May 2012.

 

Krzysztof Kolany