THE SPECTRE of a renewed Eurozone crisis reared its head yesterday, hitting shares and bond markets, as fears deepened over the future of
Investors have lost faith in the troubled lender, fearing its assets are overvalued, while its parent group has missed a debt repayment.
"The event has hit European financials like a torpedo and has revived investors darkest nightmares," said
The tremors from the unfolding crisis spread across the Atlantic. Despite strong jobs data, the S&P 500 fell as much as one per cent, before closing down 0.4 per cent.
"However, as the
The Portuguese government's borrowing costs jumped. Yields on 10-year bonds rose 0.21 percentage points to 3.99 per cent. Investors also moved out of Spanish bonds, sending its state borrowing costs up seven basis points.
Analysts warned the sudden panic in
EUROZONE WOE RETURNS: Page 9 .
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