Stocks plummet on bank woes

Greek stocks continued to bleed yesterday, with banks tumbling 6 percent on concerns over the impact the country’s deepening fiscal crisis will have on the sector. The Athens bourse’s benchmark general index lost 3.11 percent to 1,925.82 points, recovering slightly from a mid-session low of 1,844 points. The blue chip FTSE/ATHEX 20 index gave up 3.92 percent to end at 942.04 points. National Bank, the country’s largest company based on market capitalization, slumped 7.34 percent to 12.75 euros. It has lost nearly 50 percent over the last six months as the country’s debt crisis started to accelerate. Eurobank shed 8.06 percent to 5.70 euros and peer Alpha ended at 6.11 euros, off 7.42 percent for the day. Turnover reached 351 million euros versus 201 million in the previous session.

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