European Stocks Drop as Italian Bond Yields Jump to Euro Record
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European stocks dropped for the third day in four as Italian bond yields surged to their highest since the introduction of the euro and Italy’s credit-default swaps jumped to a record.
HSBC Holdings Plc, Europe’s largest bank, retreated 5.8 percent. Dexia SA slumped 11 percent as the lender said its shareholder equity shrank because the Belgian government nationalized its unit in the country. Deutsche Post AG, Europe’s biggest postal service, jumped 3.8 percent after raising its full-year forecast.