YIKES: European Markets Close At Their Lows And Italy Dives 3.8%

Italy's FTSE MIB IndexItaly’s FTSE MIB Index

Photo: Bloomberg

For U.S. watchers, European markets closed an hour later than usual as much of the continent set their clocks back to get an extra hour of daylight. And the close couldn’t come soon enough.Germany’s DAX: -3.2%

France’s CAC 40: -3.2%

UK’s FTSE 100: -2.8%

Spain’s IBEX 35: -2.9%

Italy’s FTSE MIB: -3.8%

After last week’s post-EU summit rally, doubters of the eurozone rescue plan sent shares lower.  Concerns are partcularly high in Italy where bond yields are soaring.  European banks were among the big losers.

SocGen: -9.8%

BNP Paribas: -9.6%

Deutsche Bank: -9.0%

Intesa Saopaolo: -6.6%

Don’t Miss: This Is The Story Of Why Italy’s Getting Crushed

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