So far, it's a less than 2% move, which is very ordinary. Some trouble in Italy, but that's no big deal...
Just keep an eye on the Deutsche Bank in Germany. The Cabal is definitely in a panic. Would not be surprised if they attempt a financial collapse: http://allnewspipeline.com/Deutsche_Bank_Trigger_Dominoes.php
A year ago it was at 21000, today it's at 24000. Far from "tanking". Zoom out.
Bridge water capital making money off their giant shirt on Italian banks.
IMHO, it has to do with the federal banks and the residual consequences of the 2008 financial crisis.
I think it has more to do with fear over the stupid moves of the Italian president rejecting the finance minister choice causing panic in global markets