By Michael Snyder – Re-Blogged From Freedom Outpost
I told you to keep your eyes on Europe. On Tuesday, widespread panic shot through European financial markets and this deeply affected U.S. markets as well. The Dow Jones industrial average fell 391 points, and at this point the Dow and the S&P 500 have been down for three trading sessions in a row. But the big news is what is happening over in Europe. Tuesday’s crash represented the largest one day move for 2 year Italian bonds ever, and Italian bank stocks are now down a whopping 24 percent from their April highs.