Italian bank index falls 5.9% for the week

The weekly damage is concentrated in Italian banks rather than the broader market: a 5.9% weekly drop in the bank index against a far smaller decline in the Italian benchmark points to sector-specific pressure, not a uniform risk-off move. Germany's weaker weekly performance complicates the read, since the DAX fell roughly 2% while Italy's headline index held up better, suggesting the bank selloff is the outlier worth tracking. Whether the Italian bank index decouples further from the broader European tape, or the weakness spreads, is the open question.