Athens Stock Exchange declines amid banking sector sell-off

The Athens Stock Exchange has experienced significant downward pressure, driven primarily by a heavy sell-off in the banking sector. The General Index has struggled to maintain support at the 2,600-point level, hitting multi-month lows in recent sessions.

Several factors are contributing to the bearish sentiment, including the rise of Brent crude oil prices above $100 per barrel, increasing government bond yields, and geopolitical tensions in the Middle East. These international developments have limited risk appetite and increased inflationary fears.

Major Greek banks, including Eurobank, Piraeus Bank, Alpha Bank, and National Bank of Greece, have all seen notable declines. The banking index has entered a correction phase, dropping significantly from its recent highs. Trading volumes have seen sharp increases during these periods of volatility, reflecting intense liquidation activity.