A sharp decline in Spain’s IBEX 35 highlights market reactions towards Catalonia’s latest move to declare independence from Spain.
The index has fallen as low 2.1 percent and euro zone banking shares have fallen as much as 1.8 percent. However things slightly improved as the Spanish Prime Minister, promised to restore “the rule of law” in the region.
Catalonia is Spain’s wealthiest province and is home to many of the world’s largest corporations. However, uncertainty has cause businesses to leave such as major financial firms CaixaBank and Banco Sabadell.