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European shares slump on Italy stalemate

5 years ago3 views

Italy's election stalemate dragged Europe's stock markets sharply lower as investors worried about how it may reignite the eurozone debt crisis.

That led to a big sell off of bank shares.

The fear is the banks will suffer further losses through debts not being repaid if the region's economy weakens as a result of debt problems in countries such as Italy and Spain.