How Glencore's Crazy Month Makes Greek Banks Look Tame
- The miner's record plunge rivals slump in Greek lenders
- Expectations for more volatility in Glencore shares surge
Best of the Web: Glencore's Plunge Outdoes Greece's
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Which was a bigger trauma for European stock investors: this summer’s pummeling of Greek banks, or the last month in Glencore Plc? Based on value lost, it’s the latter by far.
As much as $14.4 billion was erased from the mining company’s shares in September -- about $4.4 billion more than was wiped out in a Greek bank index in August. Glencore’s unprecedented volatility in the past 10 days is almost double that of the Greek lenders.