National Bank Of Greece Continues Downward Slide (NBG)

Shares of National Bank of Greece (NYSE: NBG) are continuing their slide today, losing nearly 16% to $2.60 on the trading session over continued sovereign debt fears in Greece. The stock has lost almost 65% of its market cap in the last 6 months as this situation continues to play out.

The stock market has swooned today as a result of a downgrade of Portuguese sovereign debt. The Dow Jones Industrial Average has lost 128 points to 11,077. Right now, sovereign debt fears in the Eurozone are driving fear back into this market.

The Euro currency has also been trending lower throughout the day. Traders and investors should not underestimate these problems, as we saw the turmoil in the credit markets in the United States follow a similar, drawn out, path before the collapse of Lehman Brothers and the panic that ensued.