Global stock markets slip on Portugal bank crisis

Описание: Global stock markets SLIPPED... on fresh concerns over the health of a leading Portugese bank.
The latest crisis in the European nation is raising fears... that the country could fall into financial trouble... once again.
Hwang Ji-hye tells us more. Stock markets in the United States and especially in Europe took a massive hit on Thursday.
France lost almost 60 points and in England... the markets dropped 45 points.
Wall Street recovered most of its nerve at the opening of trading,... with the Dow losing 70 points, the S&P 500 falling 8, and the Nasdaq, 22 points.
So what is haunting the market?
The soundness of Portugal's largest bank, Banco Espirito Santo.
The tension centers on Espirito Santo International,... the largest shareholder in Portugal's top-listed bank.
It allegedly missed a debt payment this week... and was held responsible for accounting irregularities.
Amid the feeble pace of economic recovery in Europe,... analysts say the rally in global stock markets shows that investors are still very worried about the overall financial health of the region.
That's also raising fears... that Portugal might face a crisis again,... just about a month after emerging from a bailout.
Portugal's regulator halted trading at the troubled bank after its share price crashed 17-percent.
The Portuguese government insists... that its biggest bank is solid... and that the drop in stock prices simply reflects trouble at the parent company.
Investors, however, are skeptical,... saying they have heard such reassurances in Europe before... and that the size of the problem remains unclear.
Hwang Ji-hye, Arirang News.