Coming election turns investors risk averse
May 29, 2018
U.S. stock index futures fell on Tuesday led by bank stocks as investors moved to low-risk assets due to a deepening political crisis in Italy and a leadership challenge in Spain.
European financial markets saw a second day of heavy selling due to fear that repeat elections – which now seem inevitable in the euro zone’s third largest economy – may become a de facto referendum on Italian membership of the currency bloc and the country’s role in the European Union. [MKTS/GLOB]
On Monday, Italy’s president set the country on a path to fresh elections by appointing a former International Monetary Fund official as interim prime minister with the task of planning for snap polls and passing the next budget.
This article was posted: Tuesday, May 29, 2018 at 12:45 pm