Market recap: Alarm over Italy's surging borrowing costs sparked a stock selloff that completely...

|By:, SA News Editor
Market recap: Alarm over Italy's surging borrowing costs sparked a stock selloff that completely reversed gains of the prior two days. The slide took all 10 major sectors into the red, with financials taking a big hit: MS -9%, GS -8.2%, JPM -7.1%, JEF -10%. In a flight to safety, traders rotated into the dollar, and Treasurys moved higher. NYSE losers led gainers seven to one.