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BY CHARLES FORELLE, PATRICIA KOWSMANN AND ED BALLARD
Portuguese bonds and stocks led heavy declines in European markets on Wednesday, after the resignation of Foreign Minister Paulo Portas triggered the country’s worst political crisis since it accepted an international bailout two years ago.
The chaotic selling especially pummeled Portuguese government debt, reflecting rising investor concern that a new Portuguese leadership would again seek aid from euro-zone peers, and even, perhaps, a restructuring of the government’s debt.
By midday in London, the yield on Portugal’s benchmark 10-year bond had climbed 1.32 percentage points, to 7.76%—indicating scant possibility that Portugal would be able to borrow money from private investors. Under …
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