DryShips Inc (fka DRYS)

[I-Man]

Greece bans short-selling for two months
4:37a ET April 28, 2010 (MarketWatch)

FRANKFURT (MarketWatch) -- Greece's market regulator banned on Wednesday all short-selling of stocks listed on the Athens Exchange for the next two months, after local equities suffered a string of sell-offs in recent weeks as fears over the nation's debt crisis escalated.

The Hellenic Capital Market Commission said Wednesday it banned short-selling "after taking into account the conditions prevailing in the Greek market."

The ban became effective on Wednesday and will remain in force until June 28.

The Greek regulator's decision to slap a ban on short-selling comes a day after Standard & Poor's downgraded Greece's credit rating to junk status, triggering dramatic declines in local equities and bonds.