Why did the Italian market crash?

Italians’ stock market plunged on Wednesday, with the DAX down more than 8 percent, the S&P 500 falling almost 10 percent and the Italian index down almost 20 percent.

The market plunged as the DAx fell as much as 7 percent in early trading, with investors fleeing to buy shares of smaller companies.

In the wake of the market’s plunge, the government’s finance ministry said it would be reviewing the country’s long-term capital controls.