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%
