The FTSE MIB fell more than 1% to around 41,758 on Friday, hitting its lowest level since early September, driven by signs of strain in US banks, raising concerns over broader credit risks. Index heavyweight financials were the hardest hit, with sharp losses from UniCredit (-2.6%), Intesa Sanpaolo (-21%), Mediobanca (-2%), Bper Banca (-1.6%), and Banca Mediolanum (-2.5%). Defence stock Leonardo also slid over 5%, ahead of a high-level meeting in Hungary between US President Donald Trump and Russian President Vladimir Putin on developments in Ukraine. Prysmian also declined more than 3%. The auto sector was mixed, with Ferrari down 0.5% and Stellantis up 0.8%. Stellantis confirmed a $13 billion investment — the largest in its history — across five US plants to launch five new vehicles and produce a new four-cylinder engine. The automaker also signed a non-binding deal with China’s Pony.ai to develop robotaxis for Europe. Campari led gains, adding 1%