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.