Risk Appetite Fades on Italy Outlook; Oil Slumps: Markets Wrap

Politics dominated markets on Monday, with risk appetite withering in Europe as Italy lurched toward fresh elections. The region’s shares and currency reversed early gains, while U.S. equity futures pared a jump even as the America-North Korea summit appeared to be back on track. Most national gauges in Europe turned lower led by Italy’s benchmark, which plunged as populist leaders pulled the plug on their attempt to form a government and the country headed for new elections as early as the fall.