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Greek Stocks Plunge Most in Decades as Market Reopens to Crisis

Members of the media film the stock price ticker screen following the reopening of the Athens Stock Exchange in Athens, on Monday, Aug. 3. Photographer: Kostas Tsironis/Bloomberg

Members of the media film the stock price ticker screen following the reopening of the Athens Stock Exchange in Athens, on Monday, Aug. 3. Photographer: Kostas Tsironis/Bloomberg

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Greece’s stock market reopened after five weeks to the most savage wave of selling in decades, underlining a crisis that’s crippled the economy and pushed the country’s euro membership to the brink.

Banks led the plunge following the shutdown, which was due to capital controls to prevent the lenders from bleeding more deposits. Piraeus Bank SA and National Bank of Greece SA sank 30 percent, the daily maximum allowed by the Athens Stock Exchange. The benchmark ASE Index dropped 16 percent on Monday after sliding as much as 23 percent.