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Concerns Over Cyprus Bank Bailout Weighing on Markets

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  • Description

    FBN's Nicole Petallides on stocks impacting the afternoon markets.

  • Duration 1:39
  • Date

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We are right now sitting on the top of the hour as we.

We're gonna -- -- now nickel Kelly he's just standing by more than -- not exchange Nicole you know the market is bouncing back after some early warning profit taking.

All of this concerns over Cyprus as a bank tax controversial shocking this Italy.

It certainly is I mean when you talk about the fact that people put money in the bank and that's those be the safest place right you trust -- -- -- just bankers.

Hi you expect to get out what you put in there for safekeeping and this was really not only the worry of the people in Cyprus but also the worry in the entire eurozone because and -- Danny by your -- research was noting exactly that he said.

This marks the first time in the eurozone crisis that depositors -- the Bloc's banks will lose money.

Right they're basically saying they're gonna go in -- and confiscate Ted Weisberg.

A seaport Seaport Securities.

Use that word going in there I'm just saying you know and tax money that's in there NAC didn't put it away and that I wanted to go ahead and tax that depending on how much in there that's how much the taxes depending upon that.

But obviously that brings nervous and generous and jitters to this market we've seen the financials and a crisis -- especially abroad more in particular today here at home.

Names coming under all on there with down arrows Bank of America sound 13 of 1% Citi -- down over 2%.

-- seeing an even more so particularly in the eurozone -- national bank of grace.

And in new -- Say you are seeing obviously this is concerned tomorrow as the vote banks there -- -- to close on Thursday -- You exactly so watch in the currency markets -- -- affecting stock trading at all the same the call thank you.

Of course we're gonna see you fourteen minutes into the check on these markets Dow down almost ten points right now.

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