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Stock investors around the world have been bracing for the possibility that Europe would not be able to contain its sovereign debt crisis. On Wednesday, as the financial troubles deepened in Italy, it appeared their worst fears had come true.
A day after Prime Minister Silvio Berlusconi offered his resignation in the face of rising global market skepticism, investors revolted Wednesday, suggesting they do not believe that even a new leadership could fix Italy’s intransigent financial problems and revive its economy.