Dow tanks by 450 points, led by JP Morgan, Morgan Stanley

[workinclasszero]

The Dow Jones industrial average fell 450 points amid losses in Goldman Sachs and J.P. Morgan Chase.
The euro fell below $1.16 — its lowest level this year against the greenback — as Italian debt rates continued to rise.
The Stoxx Europe 600 fell 1.4 percent, weighed down by a 2.5 percent drop in Italy's FTSE MIB.
Thomas Franck | Alexandra Gibbs Published 8 Hours Ago Updated 5 Mins Ago

U.S. stocks dropped sharply Tuesday amid political turmoil in Italy that sent the euro tumbling and ongoing difficult trade talks with China.

The Dow Jones industrial average fell 450 points — or 1.8 percent — amid losses in Goldman Sachs, Boeing, and J.P. Morgan Chase. The S&P 500 fell 1.4 percent, while the Nasdaq composite fell 0.7 percent.

Stocks extended their losses midday as European exchanges closed and the euro fell further against the dollar.

https://www.cnbc.com/2018/05/29/us-stock-futures-dow-data-earnings-geopolitics-and-international-markets-on-the-agenda.html

[highmindedhavi]

1. "The EU is in an existential crisis. Everything that could go wrong has gone wrong," Soros said.

Italians Outraged After EU's Oettinger Says "Markets Will Teach Them" Not To Vote For Populists

[workinclasszero]

2. I'm ignorant

Why do politics in Italy effect the US stock market so much?

[global1]

3. Dow Tanks By 450 Points, Led By.....

the cancellation of the Roseanne show. (sarcasm)

[workinclasszero]

6. LOL

[louis-t]

4. Apparently, Italy wants out of the EU and the Euro.

That, according to my neighborhood hedge fund guy.

[workinclasszero]

5. Oh and Brexit going on as well