Crunch Time for Italy, Brexit as Leaders Convene in Brussels

Crunch Time for Italy, Brexit as Leaders Convene in Brussels
MEP and former leader of the UK Independence Party Nigel Farage (R) Conservative MP Jacob Rees-Mogg (R) on October 13, 2018 in Torquay, England. Photo by Matt Cardy/Getty Images
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BRUSSELS—Brussels, the political heart of Europe, could prove the center of global market focus this week as Italy’s budget and Brexit talks overshadow economic data and central banks.

World shares were on course for their worst week since February as a spike in U.S. bond yields, a U.S.-China trade war and other global risks have combined to undermine sentiment.