Spanish uncertainty hits markets

Fears that Spain is on the verge of asking for a full-blown bailout from the EU triggered a rout on world markets.

The FTSE 100 Index fell 117.9 points, or 2.1%, to 5533.9 amid worries that a raft of Spanish regions were poised to ask for government bailout funds, increasing the likelihood that the country itself will turn to the EU for help.