Wall Street trips and falls on cloudy Italian election
NEW YORK (Reuters) – Stocks on Monday suffered their biggest drop since November after a strong showing in Italian elections by groups opposed to the country’s economic reforms triggered worry that Europe’s debt problems could once again destabilize the global economy. The decline marks the biggest percentage drop for the benchmark Standard & Poor’s 500 Index since November7, and drove the S&P down to its lowest close since January 18. The CBOE Volatility Index or VIX, Wall Street’s favorite barometer of fear, surged 34 percent, its biggest jump since August 18, 2011. . . .
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