Greek Contagion Muted Across Markets as Crisis Seen Quarantined
Greek Numbers `Don't Imply a Contagion,' Wieting Says
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Financial markets barely shuddered after Greek voters rejected austerity demands, a sign investors see the nation’s debt crisis contained for now. Crude oil tumbled the most in five months.
The Standard & Poor’s 500 Index slipped 0.4 percent by 4 p.m. in New York, while the Stoxx Europe 600 Index lost 1.2 percent. The declines were muted compared with a week ago, when Greece first announced the snap referendum. The euro shed 0.5 percent to $1.1056, paring a loss of as much as 1.3 percent. Ten-year Treasury yields fell 10 basis points to 2.29 percent.