Fears of debt crisis contagion in Italy

Milan: Italian banks, including UniCredit SpA and Intesa Sanpaolo SpA, tumbled in Milan as the contagion from Europe’s debt crisis threatened to spread to the region’s third-biggest economy.

Responding to the market turbulence, Bank of Italy Governor Marico Draghi said he’s certain the country’s lenders will pass European stress tests by a “significant” margin.