The news of Ireland’s financial bailout has hit Spanish stocks hard, with the IBEX losing 2.68 per cent and dropping below 10,000 points for the first time since August.

The IBEX 35 closed at 9,996.40 points Monday afternoon, bringing accumulated losses this year to 16.28 per cent.

The IBEX 35 (a contraction of Iberia Index) is the benchmark stock market index of the Bolsa de Madrid, Spain’s principal stock exchange.

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