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MARKETS: Here's why global risk markets are plummeting right now.

Yahoo Finance's Alexis Christoforous and Jared Blikre break down the latest market action after chaos erupts in Italian politics leading to a bond market rout that spread across the continent, to the United Kingdom and the United States. Futures show the Dow, Nasdaq and S&P 500 all down materially. (VO) It is happening because there's concern Italy may leave the European Union. Italian President Sergio Mattarella this weekend scuttled a populist coalition government by vetoing the choice of an EU critic for economy minister. He's picked Summons Cottarelli, an economist, as interim prime minister, and Italy could see a new election in a few months.

Top 10 performers in the S&P 500 as of 11:15 am ET:

MU Micron Tech 3.20%

AMAT Applied Materials 2.44%

KMI Kinder Morgan Inc 2.20%

MPC Marathon Petro Corp 2.03%

VLO Valero Energy 1.88%

ANDV Andeavor 1.88%

MLM Martin Marietta Materials 1.85%

PSX Phillips 66 1.88%

KMX CarMax Inc 2.07%

KSS Kohl's Corp 1.59%

Bottom 10 performers in the S&P 500 as of 11:15 am ET:

PCG PG&E Corp -4.86%

BWA Borg Warner -4.14%

PFG Principal Finl Grp -2.63%

PRU Prudential Finl -2.47%

XRAY Dentsply Sirona Inc -2.17%

PDCO Patterson Companies -2.17%

MCK McKesson Corp -2.13%

STT State Street Corp -2.19%

FL Foot Locker -1.96%

MS Morgan Stanley -2.08%