Sabato, 22 Settembre 2018

Wall Street loses ground amid fears of Berlusconi Senate win


Rome, February 25 - Concerns that ex-premier Silvio
Berlusconi might come out of the Italian election with renewed
authority weighed heavily on Wall Street Monday.
The Dow Jones shed 0.10% to close trading at 13,988.07
points, the S&P 500 fell by 0.03% to 1,515.12, while the Nasdaq
rose by 0.15% to 3,166.90 amid investors' concerns over the
outcome of the Italian general vote held Sunday and Monday.
While early exit polls showed the center left with a strong
lead in both houses of Parliament, later results suggested the
Senate might still be up for grabs.
With Berlusconi's center right coalition a close second,
investors began to fear for Italy's economy as well as the
effects of a Berlusconi government on other countries tightly
linked together in the eurozone.
During the election campaign Berlusconi - who was forced
out of government in November 2011 when Italy's bond yields were
soaring so high they threatened the entire eurozone economy -
pledged to undo many of the austerity measures of his
replacement, caretaker Premier Mario Monti.
The market "is starting to assess the risk that Berlusconi
may abandon some austerity measures that have given Italy's
credibility," Dave Lutz, an analyst at Stifel, Nicolaus & Co,
told the Wall Street Journal.

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