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Greek ETFs Plunge as Investors Fly Blind

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Exchange-traded funds tracking Greek equities, transformed into vehicles for pure speculation after the Athens Stock Exchange was closed, plunged the most since 2011 in the U.S. and were halted in Germany and France.

The Global X FTSE Greece 20 ETF fell 20 percent to $9.42 at 4 p.m. in New York, reflecting bets that capital controls and bank closures in the Mediterranean nation will sink equities when markets there reopen. In Europe, the Lyxor ETF FTSE Athex 20 dropped more than 15 percent in Germany before trading was suspended, as it was earlier in France and Italy.