By  on February 26, 2013

MILAN — Italy’s inconclusive election results sent global stock markets tumbling and left the country’s fashion executives disappointed yet hopeful.

Jitters over an ungovernable country dragged down the Milan Bourse Tuesday, where the FTSE MIB plummeted 4.9 percent to 15,552.20. Among the Italian retail and luxury stocks losing ground were Brunello Cucinelli, down 2.8 percent to 15.06 euros, or $19.68; Luxottica Group, 1.5 percent to 34.02 euros, or $44.45; Salvatore Ferragamo, 1.8 percent to 20.24 euros, or $26.45, and Safilo Group, 1.5 percent to 8.35 euros, or $10.91.

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