Effects of Joanna la Beltraneja winning the War of Castilian Succession?

Imagine that John of Portugal's wife, Eleanor of Viseu dies after their marriage and when the War of Castilian Succession starts, his father Afonso V marries him with Joanna la Beltraneja. She wins and gets crowned queen of Castile, John gets crowned king of Portugal after his father dies or abdicates like IOTL and both have a son that inherits both kingdoms.

So my question is: how would this affect the rest of Europe and the colonization of the Americas? And what would be the fate of the Iberian Jews and Muslims?