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

Tuesday, June 12, 2012
By Paul Martin

Joe Weisenthal
Jun. 11, 2012

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.


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