Markets Quickly Move Past Sunday's Italian "No" Vote On Constitutional Reforms
December 05, 2016 at 08:13 AM EST
Sunday's much-anticipated Italian referendum on constitutional reforms produced a "no" vote by an overwhelming margin. Italy's prime minister immediately resigned. Many markets initially were gyrated on the news, but quickly settled down. The government-backed no-vote was not unexpected by the market place. Still, this latest development is another sign of the insecurity of the European Union and the growing potential for continued fragmentation of the EU. The Italian vote was especially worrisome to the European banking and financial sector. The Euro currency initially slumped to a 20-month low on the Italian no-vote, but quickly recovered those losses to trade higher on the day. To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2016 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post Markets Quickly Move Past Sunday's Italian "No" Vote On Constitutional Reforms appeared first on Money Morning - We Make Investing Profitable .