Market Extra: Here’s how Italy revived the euro crisis

Fears over Italy returned with a vengeance Tuesday, perhaps surprising U.S. investors returning from a three-day Memorial Day weekend as headlines out of Rome sent shock waves through global markets and contributed to a selloff for Wall Street stocks.

See:Here’s why markets are worried about Italian politics — again

Market participants don’t need a long memory to recall the worst days of the eurozone debt crisis in 2011 and 2012, when fears centered on Italy’s massive debt pile, teetering European banks and sluggish growth took center stage. Those worries were effectively pushed into the background in 2012 by the European Central Bank, but they weren’t resolved.

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