16 October 2008: -6.78% - Lehman Crack

The Milan Stock Exchange fell sharply (-6.78%) in the midst of the global financial crisis triggered by the bankruptcy of Lehman Brothers. Fear of a collapse of the international financial system and growing economic uncertainty drove investors to liquidate their equity positions. Concerns centred on interbank credit, the solvency of financial institutions and the prospects of a deep global recession, generating panic in the markets.