Wiggins started the day in 10th place
Bradley Wiggins moved up three places to seventh in the Giro d'Italia overall standings after finishing 11th in Saturday's 14th stage.
Wiggins finished two minutes 25 seconds behind stage winner Vincenzo Nibali, who escaped on the descent of Monte Grappa to set up victory.
David Arroyo, who finished one place behind Wiggins, takes over the pink jersey from Richie Porte by 39 seconds.
Wiggins is 6:32 behind, with Nibali now a further 19 seconds back in eighth.
Nibali rode the 205km (127-mile) leg from Ferrara to Asolo in four hours, 57 minutes, 51 seconds.
The Italian made his decisive move at the start of the 40km Monte Grappa descent when he surged clear of a group comprising compatriots Michele Scarponi and Ivan Basso and Australian world champion Cadel Evans.
The Liquigas rider crossed the line with a 23-second cushion over Basso, Scarponi and Evans.
Kazakh Alexandre Vinokourov, who was unable to keep pace with the quartet up Monte Grappa, finished fifth, one and a half minutes adrift.
The 15th stage on Sunday is a 222km run from Mestre to Monte Zoncolan.
Stage 14 results:
1. Vincenzo Nibali (Italy / Liquigas) 4hrs 57mins 51secs
2. Ivan Basso (Italy / Liquigas) +23"
3. Michele Scarponi (Italy / Androni Giocattoli)
4. Cadel Evans (Australia / BMC Racing)
5. Alexandre Vinokourov (Kazakhstan / Astana) +1:34"
6. Branislav Samoilav (Belarus / Quick-Step) +2:25"
7. Bauke Mollema (Netherlands / Rabobank)
8. Damiano Cunego (Italy / Lampre)
9. Linus Gerdemann (Germany / Milram)
10. Marco Pinotti (Italy / HTC - Columbia)
11. Bradley Wiggins (Britain / Team Sky) +2:25"
1. David Arroyo (Spain / Caisse d'Epargne) 61hrs 22mins 54secs
2. Richie Porte (Australia / Saxo Bank) +39"
3. Xavier Tondo (Spain / Cervelo) +2:12"
4. Robert Kiserlovski (Croatia / Liquigas) +2:35"
5. Linus Gerdemann (Germany / Milram) +3:52"
6. Carlos Sastre (Spain / Cervelo) +5:27"
7. Bradley Wiggins (Britain / Team Sky) +6:32"
8. Vincenzo Nibali (Italy / Liquigas) +6:51"
9. Alexandre Vinokourov (Kazakhstan/Astana) +7:15
10. Cadel Evans (Australia / BMC Racing) +7:26
11. Ivan Basso (Italy / Liquigas) +7:43
12. Michele Scarponi (Italy / Liquigas) +9:02