Europe Stocks Fall Without Panic as Investors Weigh Greek Vote
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European stocks fell after Greek voters rejected creditors’ austerity demands, while a measure of volatility slid amid speculation that the resignation of Finance Minister Yanis Varoufakis will smooth further talks.
The Stoxx 600 retreated 1.2 percent to 378.68 at the close of trading, after earlier losing as much as 1.6 percent. That compares with the 2.7 percent drop of June 29, the first trading day after Greek Prime Minister Alexis Tsipras announced the vote on austerity conditions. The VStoxx Index of volatility expectations for the Euro Stoxx 50 Index slipped 7.1 percent today. The volume of shares changing hands on the Stoxx 600 was 13 percent higher than the 30-day average.