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with a likely greek default just hours away stocks plunging around the globe on monday from shanghai to frankfort to new york as the crisis over greeks ability to pay its debt and stay in the euro finally reaches a climax , close the dow losing , biggest point loss , it lost forty three points , the nasdaq really took a beat , twenty two points losing about two and a half , april of last year , so what's everybody afraid of , the unknown there's worry a greek default could be a catalyst like the lima brothers bankruptcy in two thousand eight wreaking havoc on global markets for example some big names have been betting on greece and now they could be left holding the bag reuters investment editor jenna blonde , david i , coming in and hike in the next several weeks i'm also hearing that , cushion that they're getting because the bot securities i'm a very very low prices gives them that kind of insulation from any kind of price , to be fair greece is a small part of these massive portfolios but losses of any type have a way of playing into the market's worst fears and greece isn't the only problem porto rico is on the verge of defaulting on its debt adding a double whammy to investor sentiment