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A broker talks on the phone in a trading room of a Portuguese bank in Lisbon, Thursday, July 10, 2014. Share prices on the Lisbon stock exchange fell more than 4 percent and Portugal's bond yields ticked higher amid growing concern about the health of one of the country's largest financial groups.
A broker talks on the phone in a trading room of a Portuguese bank in Lisbon, Thursday, July 10, 2014. Share prices on the Lisbon stock exchange fell more than 4 percent and Portugal's bond yields ticked higher amid growing concern about the health of one of the country's largest financial groups.
(FRANCISCO SECO/AP)

Key lessons from Thursday’s market turbulence

If the stock market jolt on Thursday left you shrugging, you’re not alone.

That’s because the source of the initial selloff was trouble at a Portuguese bank you’ve never heard of; the dangers to the economy didn’t warrant a peep out of the European Central Bank; and the hit to North American stocks merely sent major indexes back to where they were several days ago.