Italy, Spain trigger fresh sovereign-debt fears

Europe’s sovereign-debt crisis reclaimed the spotlight Monday, sending investors around the world in search of safety after voters in Spain provided a thumbs-down on further austerity measures and Standard & Poor’s threatened to cut Italy’s credit rating.

The events add to turmoil surrounding disagreement between the European Central Bank and some European Union officials over a potential restructuring of Greek government debt, as that nation struggles to meet its financing needs a little more than a year after the approval of a 110 billion euro bailout by the European Union and International Monetary Fund.