Stalemate results in Italy, cause for jitters in Europe

The latest round of elections in Italy has resulted in a stalemate.

According to BBC News, no party gained a majority in the senate after the final day of voting concluded on Monday.

The stalemate between the centre-left and the centre-right blocs could spurn fresh elections. Former P.M. Silvio Berlusconi says that is the wrong option for the country, and forming an alliance is the right one.

Markets around the world reacted to the results. Italian markets dropped sharply and others worldwide opened down.