Indexes fell sharply in Piazza Affari and, more broadly, in all European markets, with the Ftse Mib slipping to the lowest since early May.

Weighing on the stock markets, a trader reports, is the widening of the spread between the French 10-year bond and the German Bund that has reached 68.5 basis points.

The trader adds that there is uncertainty on the front of the Fed's rate cut, combined with the outcome of European elections with the biggest fallout in France and Germany.

Down sharply are banks with the sector index retreating 2.5 percent. Also down sharply is the auto sector on news of European duties on Chinese electric car imports.

Stellantis retreats 2.9 percent.

Around 4:45 p.m., the Ftse Mib index loses 1.92 percent.

(Giancarlo Navach, editing Gianluca Semeraro)