Stefanik to Launch Campaign to Challenge Gov. Hochul in New York
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Elise Stefanik, a Republican congresswoman, is a leading ally of President
Trump who has gone to great lengths to criticize Ms. Hochul and Mayor-elect
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Markets fear that a chaotic default by either Greece or Italy would lead to huge losses for European banks. That, in turn, could cause a global lending freeze that might escalate into another credit crisis similar to the one in 2008 after Lehman Brothers fell.
ReplyDeleteSome analysts fear that the euro itself could fall, which would lead to inflation and a breakdown in free trade agreements in the European Union.
European markets also fell sharply. Italy's benchmark index plunged 3.8 percent. Germany's DAX and France's CAC-40 each lost 2.2 percent.
The prices of assets seen as safe havens rose sharply. The dollar jumped 2 percent vs. the euro.