The hit came amid uncertainty and concern that Greece is headed to a messy exit from the eurozone with 61 per cent of voters backing the no campaign by the Syriza government.

Moneylink Financial Planning financial advisor Russell Tym said Orange residents should not worry about Australian banks or financial institutions being affected because they are not owed money by Greece but some superannuation funds will be affected.

“If the market falls 1.4 per cent then the value of super will fall about half that, you are not talking a huge amount but enough to notice,” Mr Tym said.

Although the Australian share market dropped by about 1.8 per cent early on Monday morning, it increased to 1.4 per cent in the afternoon and Mr Tym said it will continue to fluctuate with the reaction in the USA to be the biggest indicator of future trends.

He said the Australian share market opening earlier than the US and European share markets would have also contributed to the effect on Australian stocks.

“It’s uncertainty, investors don’t like uncertainty, they worry there might be flow on effects in Europe, they worry Greece may leave the eurozone.

“I wouldn’t necessarily say it’s going to shoot back up tomorrow, it’s going to bounce around for a while.

“There’s going to be a bit of uncertainty for a while.”

He said the Greek GDP was worth about 0.4 per cent of the world GDP in 2013 and 1.3 per cent of the European union GDP last year and is less than the Queensland economy. 

tanya.marschke@fairfaxmedia.com.au