Italian stocks plunge after credit rating downgrade

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MILAN : Italian stocks plunged at the start of the session on Tuesday after Standard & Poor's downgraded Italy 's sover

The benchmark FTSE Mib index in Milan dropped 1.21 percent, with insurance giant Fondiaria-SAI and truck maker Fiat Industrial worst hit.

Italy's two biggest banks, UniCredit and Intesa Sanpaolo, also fell sharply.

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