Article updated: 2/26/2013 8:23 AM

Italian election inconclusive; global markets drop

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The reflection of a pedestrian seen in the window, with a sign at a money exchange bureau, in London, Monday

Associated Press

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Italy emerged from elections Tuesday with no clear winner, driving markets around the world markedly lower as investors worried that one of Europe’s biggest economies would be unable to build a governing coalition that can stay the course on unpopular austerity measures. A day after polling ended, the election remained close as Italians awaited the final official results. European leaders pleaded with politicians in Italy to quickly build a government to continue to enact reforms to lower Italy’s critically high debt and spare Europe another spike in its four-year financial crisis.