Stocks rally cut off by EU threats over Italy's budget [Reuters (UK)]
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Source: Reuters
Stocks rally cut off by EU threats over Italy's budget - Reuters 4 Min Read LONDON (Reuters) - European stocks, bond yields and the euro fell on Tuesday as concern about Italy’s budget overshadowed talks of a Fiat-Chrysler and Renault merger and the muted showing of nationalists in European Union parliamentary elections. After gains in Asia, hopes that European stocks would open higher were dashed, with Italian shares falling more than half a percent, unwinding early gains in both the pan-regional STOXX 600 and Germany’s DAX. Markets had been cheered by limited gains for nationalists in the EU elections, though wins for eurosceptic parties in Italy, France, Poland and would-be ex-member Britain, as well as snap elections in Greece and political turmoil in Austria, curbed risk appetite. However, Italy’s dispute with the European Commission emerged to dominate European trading as markets opened. The Commission could fine Italy 3 billion euros for accumulating debt and deficits that brea
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