Asian Markets Fall, As The Spanish Bailout Continues Its Spectacular unravelling

It is jaw dropping the speed with which the market soured on the Spanish bailout.

One moment the banking system appeared to have been given a major shot in the arm, with stocks up over 4.5%.

The next moment: The bailout is not enough, and suddenly the Spanish government is just on the hook for more debt and, oh, perhaps now normal bondholders feel they are secondary to the bailout. Whoops!

Meanwhile, yesterday’s Asia rally: gone.

Here’s the Nikkei giving most of it up.

image

For more on why the market is panicking again, see here >

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

markets moneygame-us