The stock market this time could not resist the correction, the sellers turned to the banking sector and chose stocks of companies with large capitalization, while sentiment in European markets was also negative in anticipation of the Fed’s action.

The strong and almost uninterrupted year-to-date rally in the General Index, which propelled it to first place in terms of returns internationally, was only a matter of time before it resulted in portfolios taking profits, with a rate, however, being the return of those funds to the market at lower price level.

In addition, domestic analysts pointed out that the market needed a correction, since A.A. he’s seen such a big and fast move since 2004 and an “outlet” would be a perfectly healthy thing. However, it is technically important that the General Index does not miss 1100 points, the level that created the “local top”, although the immediate support is at the level of 1060 points.

The general index closed with a loss of 1.82% to 1101.3 points, and the turnover amounted to 115.64 million euros. According to Merit Securities, support points are located at 1092 and 1033 points, and resistance points are located at 1149 and 1254 points.

The “signals” of international analysts about the end of the European markets rally are getting stronger.

The Large Cap Index fell 2.03% to 2678.8 points, while the Mid Cap Index closed at 1618.02 with a loss of 1.59%.

Among non-bank blue chips, only Coca-Cola (+0.84%), Quest (+0.58%) and Autohellas (+0.34%) were the only exceptions to the general decline. Motor Oil posted the biggest losses at -3.45%, while GEK TERNA, Titan and ELVALHalcor closed down more than 2%.

The banking index fell by 4.19% to 881.01 points, while the Eurobank showed losses of 4.74%, Alfa-Bank 4.37%, Piraeus 4.09% and the National Bank 3.33%.

“Let’s remember that in 2014, General recorded 1379 units, and today in a much better economic environment and with navigable coasts, this is significantly less, even after such a rally,” said Ilias Zacharakis of Fast Finance.

However, “signals” from international analysts that the rally in European markets is coming to an end are getting stronger, which will affect the AA, even if it has shown a few autonomy sentiments in the recent period. Bank of America warned that most of the good news is now priced in and there is less room for growth, forecasting a 20% drop in the Stoxx 600 by the third quarter. For its part, JP Morgan indicated that this year’s market highs will be reached in the first quarter, recommending that investors use year-to-date gains in equities to reduce risk in their portfolios.