Here's How Much Other Markets Are Falling Off Greece News

Global markets for the most part were trading lower on Monday following the "No" outcome in Greece's referendum held over the weekend. The Nikkei 225 index was lower by 2.08 percent in trading action, while the yen (regarded as a "safe haven") gained 0.7 percent to 135.47 per euro. At the same time, the Topix (Tokyo Stock Price Index) index lost 1.9 percent with all 33 industry groups in the red. Hong Kong's Hang Seng index fell as much as 3.7 percent during its trading session, marking one of the worst one-day performances since 2011. The index has now entered correction territory and fallen nearly 8 percent since the Chinese market peaked on June 12. Ironically, Chinese markets were higher in Monday's trading session with the CSI 300 index (largest listed companies in Shanghai and Shenzhen) gaining 2.9 percent. Reuters attributed the gain to an announcement that brokerages and fund managers will acquire "massive" amounts of stocks with the backing of China's margin finance company. Eurostoxx futures were lower by 3.0 percent to start the day, but erased some of the losses and was trading lower by 1.99 percent shortly before NYSE's opening bell. UK equities were among the top performers in the European markets with the FTSE 100 Index trading lower by only 0.60 percent. Milan's FTSE MIB index was among the worst European performers as the index was lower by 2.9 percent while Madrid's IBEX 35 percent was lower 2.1 percent. France's CAC 40 recovered early losses, but was still lower by 1.70 percent while Germany's DAX was lower by 1.36 percent.