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Spain: Stock market plunges after election results01:35

Spain: Stock market plunges after election results

Spain, Madrid
December 21, 2015 at 15:55 GMT +00:00 · Published

Spain's stock market index IBEX 35 headquartered in Madrid dropped by 3% on Monday. Yesterday’s landmark presidential elections have instilled widespread uncertainty after the ruling People's Party lost its majority.

Government bonds were also noticeably affected on Monday morning. Inconclusive elections over the weekend sent the country into political uncertainty. The performance in the Spanish markets slumping in sharp contrast to other European indices.

The ruling party People's Party gained 29 percent of the vote. Although, it is the worst result in a general election for the conservative party. The second ruling party came with 22 percent of the vote and Podemos picked up an impressive 20 percent of the votes. This left a situation of uncertainty as Rajoy will try to form a government, but deadlock could conclude in new elections if he doesn’t get enough support in parliament.

Spain: Stock market plunges after election results01:35
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Spain's stock market index IBEX 35 headquartered in Madrid dropped by 3% on Monday. Yesterday’s landmark presidential elections have instilled widespread uncertainty after the ruling People's Party lost its majority.

Government bonds were also noticeably affected on Monday morning. Inconclusive elections over the weekend sent the country into political uncertainty. The performance in the Spanish markets slumping in sharp contrast to other European indices.

The ruling party People's Party gained 29 percent of the vote. Although, it is the worst result in a general election for the conservative party. The second ruling party came with 22 percent of the vote and Podemos picked up an impressive 20 percent of the votes. This left a situation of uncertainty as Rajoy will try to form a government, but deadlock could conclude in new elections if he doesn’t get enough support in parliament.

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