CHART OF THE DAY: You Won't Believe How Far Spain Has Fallen

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Spain’s IBEX 35 index—which tracks the largest 35 stocks in the Bolsa de Madrid by market capitalisation—is down a whopping 19.36 per cent year to date.

But this is nothing in comparison to how fall it has fallen since 2007. That index is down a full 9,037.6 points since hitting a high of 15,945.70 on November 8, 2007. Since that time, the index has lost about three-fifths of its value.

The index is not far off its multi-year lows either—if it sees losses of more than 1.31 per cent tomorrow then it will be below the crisis low of 6,817.40 set on March 9, 2009.

Ugly stuff.

chart of the day, ibex 35 index, april 2012

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