Markets across Europe plunged amid renewed geopolitical uncertainty following reports that former U.S. President Donald Trump signaled an end to the ceasefire in Iran — reigniting fears of escalating conflict in the Middle East. The announcement triggered a wave of profit-taking and liquidity-driven sell-offs, hitting Greek equities especially hard.
Athens Slides Sharply
The Athens Exchange General Index (ATHEX) fell more than 2.5%, dropping below 2,470 points by mid-session. Large-cap stocks — which had led recent rallies — were among the hardest hit. Banking shares led the downturn: Alpha Bank lost over 3%, while Piraeus Bank and Optima Bank posted similar declines. National Bank and Eurobank each shed more than 2.5%. The banking index as a whole dropped over 2.5%.
By shortly before market close, more than 100 stocks were trading lower, with only 12 gaining and 10 unchanged. Total trading value already exceeded €240 million.
Broader European Sell-Off
European markets followed suit, with major indices sliding sharply on Wednesday, July 8, 2026. Fears over regional instability and its potential economic fallout returned swiftly. France’s CAC 40 and Germany’s DAX both tumbled — down more than 1.6% and 1.8%, respectively — as investor sentiment soured across the continent.