European Markets Slide Amid Portugal Concerns

European equities retreated on Wednesday as banking stocks slipped after Moody's cut Portugal's credit rating to 'junk' and said the highly indebted country may need more bailout funds. A 5 percent jump in the Euro STOXX 50 volatility index , one of Europe's main barometers of market sentiment, suggested a decline in investor appetite for riskier assets such as equities.

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