Spain Stocks Down Over 4% despite PM's Speech #deotrade #Spain #Stock_Market The IBEX 35 plunged by 4.3% to 8759 on Wednesday, its lowest in almost 2 months and in line with the European peers as turmoil in the banking sector renewed. The optimism off Spain's PM failed to convince the market of the country's robust and resistant financial system, with shares of the big lenders Banco Sabadell (-10.4%), BBVA (-9.6%), Banco Santander (-6.8%), Caixabank (-6.7%), and Bankinter (-6.4%) all plummeting. Losses came after Credit Suisse hit a historical bottom. The body's top shareholder, Saudi National Bank, ruled out further injections even if additional liquidity was needed. Weighing on investors was also the prospect of an ECB rate hike on Thursday. Meanwhile, Inditex dropped 5.1% after posting record quarterly results but signaling larger investment spending. Iberdrola was the only protagonist, up by 0.1%, as the company revealed its plans to undertake a share buyback to reduce capital.