European Stocks Hit By Greek Crisis (DB, UBS)

The growing concern over Greece’s escalating debt crisis hit European stocks, which slid by more than 1%, the largest intraday slide in six weeks. Swiss, German, and French banking stocks in particular, were affected.

Societe Generale (OTC: SCGLY), Deutsche Bank (NYSE: DB), and UBS (NYSE: UBS) lost about 2.5% to 4% each. The European Central Bank kept interest rates at a record low of 1%.

Investors are uneasy about the fact that Greece is looking for more options even after the EU-IMF deal. Greek banking stocks have plunged more than 50% in the last six months, and wiped out nearly 24 billion Euros of market capitalization in the process.