Stocks Battered As Italian Crisis Deepens


TOKYO – Asian stocks extended a global sell-off on Wednesday as Italy’s political crisis rippled across financial markets, toppling the euro to a 10-month low, pushing up borrowing costs for Rome and sending investors into safer assets such as U.S. Treasuries.

MSCI’s broadest index of Asia-Pacific shares outside Japan tumbled 1.4 percent, while Japan’s Nikkei average sold off 1.5 percent to a six-week low.

Chinese shares also headed south, with the Shanghai Composite index down 1.4 percent. South Korea’s KOSPI and Australia’s S&P/ASX 200 slipped 2.0 percent and 0.5 percent, respectively.

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