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Global markets falls on Italy political turmoil
This article was posted on May 30, 2018 and is filed under Market News
NEW YORK (Reuters) – The S&P 500 and the Dow Jones Industrial Average fell more than 1 percent on Tuesday as political turmoil in Italy sparked concerns about the stability of the euro zone. taly has been unable to assemble a coalition government since inconclusive elections in March, which saw the rise of anti-establishment parties that support leaving the euro. The most recent nominee for prime minister failed to secure support from the country’s major political parties.
The political crisis in Rome, and the threat to the euro project it represents, triggered a rush to traditional safe havens like U.S. debt, pulling down U.S. 10-year bond yields and in turn spurring losses for U.S. banks.
For more visit: Reuters
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