https://apnews.com/c483174ad4e34638be9acde6689bb5fc

NEW YORK (AP) — Stocks in the U.S. and Europe are sinking Tuesday following a flare-up of political turmoil in Italy, which stoked fears of instability in the euro bloc. Bond prices are climbing and yields are plunging, while the euro fell to its lowest level against the dollar in almost a year.

The drop in U.S. bond yields is causing big losses for banks. Lower yields force interest rates down on mortgages and other kinds of loans, meaning thinner profits for banks. Major exporters like technology and industrial companies are also falling.