Stocks take a tumble in last hour

Time to worry about Europe again? Italy finds itself in political gridlock as the national elections failed to produce a clear winner. This means a shaky coalition government that's unlikely to push for the kind of austerity measures that would keep the budget deficit in check. As the nervous-making results rolled in, traders intensified their selling, with the Dow losing 216 points, to 13,784. What has been a mostly up-and-down month is finishing on the down side, perhaps the culmination of higher gas prices, Washington ineptitude, and now Europe. Still, the last-hour freak out seems a little overwrought.

More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner

Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook