Greek Stock Market Worse Than Great Depression
May 21, 2012
It's pretty unbelievable to say that. But the Athens Stock Exchange has now fallen more than 88% from its 2007 highs. This outrageous number slightly beats out the 85% correction in US Stocks during the Great Depression.
Today's chart comes from The Atlantic and shows the Athens Stock Exchange (in blue) with the S&P500 (in red) from their cyclical highs:
From Atlantic:
"I would say that this might be a good buying opportunity, except that Greek stock prices are at the same level they were back in November 1992.
It's been two lost decades for Greek stock investors. And the austerity isn't nearly over."
Also See:
Greek Stock Market Falls 88% From 2007 High (Ritholtz)
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