YEREVAN, July 6. /ARKA/. European stocks dropped and the euro weakened as Greek voters’ rejection of austerity sent investors to the relative safety of Treasuries, German bunds and the yen, Bloomberg reports.

Shanghai stocks rose amid intensifying efforts to arrest a $3.2 trillion selloff.

The Stoxx Europe 600 Index slid 1 percent by 8:27 a.m. in London and the euro was weaker against most major peers, dropping 0.5 percent versus the dollar and 0.7 percent to the yen. Yields on 10-year Treasuries and bunds slid at least seven basis points, while rates on Italian and Spanish notes jumped at least nine basis points. Commodities slumped amid the flight to safety. The Shanghai Composite Index rose 2.4 percent after erasing a gain of as much as 7.8 percent. –0--