and china only adds to. the current mayhem on financial markets still reeling from the political turmoil in italy which could be facing snap elections as we heard analysts warn that europe may well be on the brink of another euro crisis and all that uncertainty has created a sell off of stocks across the globe. japan's nikkei exchange was down one point five percent joining losses in shanghai and hong kong the declines in asia come as fears over a new financial crisis are creeping into european markets italy faces that interim government and the likelihood of new elections have rattled investors there and worldwide italy's lead index temporarily dropped by almost four percent on tuesday by the end of trading it stood at minus two point seven percent losses in madrid were almost as high the german dax index also lost around one point five percent. bank stocks above all were on