World markets retreated Tuesday as a big vote for anti-austerity parties in Italy's elections left the eurozone's third biggest economy in political deadlock, sparking fears of a revival of the region's debt crisis.
European stock markets were sharply lower, led by a 4% plunge on Italy's index of leading shares. Italy's borrowing costs increased, as the yield on its 10-year bond moved up towards 5%, triggering similar moves in other weaker eurozone states such as Spain and Portugal. The euro fell to just above $1.30.
Final results showed the center-left coalition of Pier Luigi Bersani winning by a very slim margin in the lower house of parliament but unable to control the Senate after a strong showing by former Prime Minister Silvio Berlusconi and a protest movement led by comedian turned politician Beppe Grillo.
FULL STORY
Thats a lie. The truth is US markets and world markets are all in bad shape. Thats all. Italy doesnt affect anybody lets make that clear.
The anti austerity sentiment, protests and indications in countries like Italy & Spain are already factored in