Good morning! Here’s what you need to know in markets on Tuesday.
A €5 billion ($5.33 billion) rescue plan for Italian bank Monte dei Paschi di Siena hangs by a thread after Prime Minister Matteo Renzi’s heavy defeat at a weekend referendum tipped the country into political turmoil. The bank, saddled with bad loans, needs to raise the money by the end of the month to avoid being wound down, but Italy now faces early elections after Renzi said he would quit to take responsibility for the defeat of his constitutional referendum.
