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Portugal bank’s woes spur EU volatility Add to ...

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Troubles at a Portuguese bank sent shivers through global markets, underscoring the fragility of the stock rally and reawakening fears over the stability of Europe’s banks and the prospects for economic recovery.

While those concerns subsided and North American stocks later pulled back from deeper losses, the ripple effects from Portugal put a sudden end to investor complacency and triggered a rush to traditional islands of safety such as U.S. Treasuries, German government bonds and gold.

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