CNBC's Michelle Caruso-Cabrera reports on the ripple effects of global unrest.» Read More
Edward Hugh, an independent economist, says the euro zone debt crisis has not returned but the issues in Portugal are a "warning shot" that it might be back soon.
Giovanni Sabatini, managing director of the Italian Banks Association, says Italian Banks are in "good shape" and have worked hard to prepare for the asset quality review.
Khoon Goh, Senior FX Strategist at ANZ, expects the Japanese yen to weaken against the U.S. dollar soon if the problems in Portugal's banking sector don't escalate.
Mikio Kumada, Executive Director & Global Strategist at LGT Capital Partners, discusses the concerns surrounding the euro zone's periphery markets.
James Lowell, CIO of Adviser Investments, expects markets to recoup losses once investors realize that fears over Portugal's banking sector are "individual and isolated."
LISBON, Portugal— The specter of Europe's financial crisis is back to haunt investors. The tensions center on Espirito Santo International, a holding company that is the largest shareholder in a group of Espirito Santo family companies, including the parent of Portugal's largest bank, Banco Espirito Santo.
LISBON, July 10- European and U.S. stock markets fell, and bond yields of Europe's southern nations rose on Thursday as investor fears over financial troubles at the family-owned holding companies behind Portugal's largest listed bank spilled across markets and borders.
The Fed issued a cease-and-desist order and a $975,000 fine to Banco Espirito Santo for a violation in 2012.
Banco Espirito Santo was fined $975,000 by the Federal Reserve in 2012. CNBC's Michelle Caruso-Cabrera provides insight to the fine.
LONDON, July 10- Concern about the health of a parent company of Portugal's largest bank hurt bonds from the euro zone's periphery on Thursday, curbing demand at Greece's second debt sale following its 2012 default.
*Portugal's worries about BES group have regional reverberations. LONDON, July 10- Concern about the health of a parent company of Portugal's largest bank hurt bonds from the euro zone's periphery on Thursday, curbing demand at Greece's second debt sale following its 2012 default.
Shares in one of Portugal's main banks, Banco Espirito Santo, were suspended from trading after dropping another 17 percent, Dow Jones reported.
Portugal suspends the trading in Banco Espirito Santo shares, reports CNBC's Michelle Caruso-Cabrera.
Art Cashin, UBS director of floor operations, discusses how problems in Portugal have spilled over to spook the U.S. stock market.
CNBC's Karen Tso reports there's a selloff in global markets triggered by disappointing economic data and concerns around troubled Portuguese banks.
Worries over the health of Portugal's biggest bank on Thursday raised fears that the country might run into financial trouble again— just weeks after emerging from a bailout— and trigger a flare-up in the market crisis Europe thought it had quelled.
Jim Iuorio, TJM Institutional Services shares his thoughts on what's prompting the selloff in European markets.
LONDON, July 10- The yen rose to a three-week high against the euro on Thursday as investors sought safety following weak Italian economic data and concerns about Portugal's largest listed bank that hit European shares. The euro dropped 0.5 percent to 137.84 yen, its lowest since June 16.
CNBC's Karen Tso reports European shares fell sharply on weak economic data and fears about Portugal's banks.
LONDON, July 10- European shares extended losses on Thursday, weighed down by heavy falls in southern indexes after weak economic data from Italy and mounting concerns about the financial health of Portugal's largest listed bank.