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Stocks tumble on fears fueled by Portuguese bank's troubles
Stocks tumble on fears fueled by Portuguese bank's troubles

Stocks tumbled in early trading Thursday as the troubles of a leading Portuguese bank renewed concerns about the European banking sector. The Dow Jones industrial average fell about 150 points, or nearly 1%. The Standard & Poor's 500 index also was down nearly 1%. The tech-heavy Nasdaq composite was down even more, about 65 points or close to 1.5%. Declines in U.S. stock markets followed drops in exchanges across Europe amid concerns about Banco Espirito Santo, one of Portugal's largest banks. Its shares fell about 17% Thursday after reports that its parent company missed some payments on commercial paper. European banks have been struggling to recover from the global financial...

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