News Alert: U.S. stocks plummet more than 3 percent over political turmoil in Italy

	Wednesday, November 9, 2011 4:15:22 PM NEWS ALERT U.S. stocks plummet more than 3 percent over political turmoil in Italy U.S. stocks tumbled Wednesday as concerns grew that political turmoil in Italy could send Europe into an even scarier sovereign debt crisis. The Dow Jones industrial average sank about 390 points, or 3.2 percent, while the broader S&P 500 index fell 47 points, or 3.7 percent. The Nasdaq tech index was down 106 points, or 3.8 percent. Just as the European Union was resolving the issues over a Greek bailout package,Italy has emerged as the next country that could require massive financial assistance. Borrowing costs for Italy's government have surged as investors worry that the country will not be able to tackle its debt, even after Prime Minister Silvio Berlusconi steps down. Berlusconi promised Tuesday to resign after the country passes new austerity measures. But Italy's public debt, which is roughly 2 trillion euros, is several times greater than Greece's. Many observers say that Italy- the euro region's third-largest economy -- is simply too big to bail out. Read more at: http://www.washingtonpost.com/business/economy/stocks-tumble-over-troubles-in-italy/2011/11/09/gIQAJnJY5M_story.html Or visit washingtonpost.com. SEND TO A FRIEND UNSUBSCRIBE E-MAIL CENTER GET HELP Washington Post Digital E-mail Customer Care 1150 15th Street NW Washington, D.C. 20071 ©2011 The Washington Post Privacy Policy