NOK, ALU, ERIC, SAP slump as Europe drops after Greek "no" vote
- Nokia (NOK -3.6%), Alcatel-Lucent (ALU -2.9%), Ericsson (ERIC -2.6%), and SAP (SAP -2.6%) are selling off after European markets dropped in the wake of a Greek rejection of austerity measures demanded by creditors. France's CAC-40 fell 1.8%, Germany's DAX fell 1.5%, and the Euro Stoxx 50 fell 2.2%. The Nasdaq and S&P are both down 0.8%. The euro is down 0.5% against the dollar.
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Something similar happened to Nokia and Alcatel a week ago. The merger partners are respectively down 11% and 10% from their June 22 closes.