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2012-06-11 — reuters.com
The reaction after Spain's bank bailout has been the most downbeat of the lot, particularly given the size of the package and the speed with which gains were wiped out. U.S. stocks fell into negative territory within an hour of Monday's opening bell and then continued dropping.
After initially falling, the cost of insuring $10 million of Spanish government debt against default rose to 595 basis points, or $595,000 per year for five years, financial information firm Markit said. That is just off a record high.
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