As share prices around the world fall, Italy’s banks have gotten some of the worst of it. Worries about the nation’s sovereign debt have spiked, and Italy’s banks hold much of it.
Shares in many of the banks are down as much as 7% — Banca di Credito Finaziario SpA and Banca Monte dei Paschi di Siena SpA.
According to MarketWatch:
Trading in Italian bank shares were suspended Monday morning after sharp drops in share prices following new concerns about the euro-zone debt crisis. A spokesperson from Borsa Italiana confirmed that trade had been halted.
The drop follows a collapse of China markets, which began the chain reaction to Europe.
Douglas A. McIntyre