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Wall Street falls on Italy political turmoil; S&P, Dow Jones down over 1%

The market's main measure of short-term volatility, the CBOE Volatility index spiked to its highest level since April 25

Wall Street Slips  |  S&p 500  |  Dow Jones Industrial Average

Reuters  |  New York 

The S&P 500 and the Dow Jones Industrial Average fell more than 1 per cent on Tuesday as political turmoil in Italy sparked concerns about the stability of the euro zone. Italy 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 ...

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First Published: Wed, May 30 2018. 03:01 IST