Stocks pared early losses but were still lower at midday after Italian election fears resurfaced.
Attempts to form a government in Italy fell apart today. Democratic Party leader Luigi Bersani said that he will not attempt to form a coalition after the protest Five-Star Movement party said it was not interested in being part of a Bersani-led government. Bersani’s comments that only an “insane” person would want to run Italy right now, underscored investor fears about Italian governance.
Pending home sales fell 0.4% in February from the previous month according to the National Association of Realtors. Pending sales were 8 % higher year-over-year. Economists had expected a 2% rise in sales.
Stocks on the Move
There was limited corporate news this morning.