Spanish stock market registers worst fall in 20 years 2008-01-22 10:11:33   Print

    MADRID, Jan. 21 (Xinhua) -- The Spanish stock market registered on Monday its worst fall since 1987 with a drop of 7.54 percent, placing Ibex-35, Spain's main stock market index, at 12,625 points.

    This is the first time since 2006 that the market closed below the 13,000 points. It reached a historic high two months ago at 15,945 points.

    The fall is among the decline wave on the international stock markets due to the persisting signs of a weakening economy of the United States.

    The Spanish government has followed what is happening "with interest, hour by hour" to see "things clearly" to take necessary measures, said Pedro Solbes, Spanish minister of economy and finance.

    He also said "there is no reason to exaggerate" the effects of the fall and stressed that Europe "is reasonably prepared" for a slowdown.

Editor: Jiang Yuxia
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