Stocks Plunge As Italy Heads For Possible Gridlock

NEW YORK (February 25, 2013)--Stocks dropped sharply Monday as investors worried that Italy could be seized with political paralysis, stymieing the country's economic reforms and causing another flare-up in the region's debt crisis.

The Dow Jones industrial average plunged 216 points to end the day at 13,784 Monday, a loss of 1.6 percent and the biggest drop since November.

The Standard & Poor's 500 dropped 27 points, or 1.8 percent, to close at 1,487.

The Nasdaq lost 45 points to end at 3,116.

An early gain was gone by midday after reports from Italy suggested that the country was headed for political gridlock following strong gains by former premier Silvio Berlusconi and a protest campaign led by a former comedian.

Four stocks fell for every one that rose on the New York Stock Exchange where volume was average, 3.8 billion shares.


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