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The Boston Globe

Business

  

Snapshot

Turmoil in Cyprus roils the markets

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Investors worried a plan to seize money from depositors in Cyprus could set off more anxiety about the euro. The Dow fell 110 points early on, turned positive in the afternoon, then fell again in the last hour. European markets had modest losses. A rally that pushed the Dow to records this year has been punctuated by concern about the euro region’s debt crisis. An agreement between Cyprus and its European partners called for it to raid bank accounts as part of a $20.4 billion bailout, the first time in the eurozone crisis that the prospect of seizing individuals’ savings has been raised. Facing­ an uproar, Cyprus delayed a vote and closed all banks till Thursday.

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