…Italy’s government dissolves. New elections in July. New tariffs on China. Stocks fall, Treasuries rally, bank stocks tumble. Puerto Rico’s humanitarian crisis. No coffee today. Financial Review by Sinclair Noe for 05-29-2018 DOW – 391 = 24,361 SPX – 31 = 2689 NAS – 37 = 7396 RUT – 3 = 1623 10 Y -.16 = 2.77% OIL – 1.07 = 66.81 GOLD + 1.20 = 1299.40   The good news is that it could have been worse. The Dow Industrials were down over 500 points at session lows. Today’s losses marked the third straight trading session of negative numbers for the Dow and S&P 500, both of which suffered their worst day on a percentage basis since April 24. Stocks extended their losses throughout the day as European exchanges closed and the euro fell further against the dollar. The VIX, or volatility index jumped by about 30%; complacency got a sharp awakening. The risk-off attitude fueled demand for safe-haven trades. Treasury bonds had a huge bounce, suddenly pushing yields down over 5%. It was the biggest one-day advance for Treasuries in about 2 years and it pushed yields to 7-week lows. The yield on the 2-year note also dropped 16 basis points to 2.34%, so the already flat yield curve did not flatten further. Treasuries were a safe haven play as investors abandoned Italian bonds, pushing yields up over 50 basis points. The euro fell below $1.16 — its lowest level this year against the greenback — as Italian ...