Scramble for safety as Spain fears grow
By Vivianne Rodrigues in New York
Wednesday 18.20 BST. Risk appetite is deteriorating sharply as hopes for Chinese stimulus measures are dashed and concerns grow over Spain’s banking problems.
In the US, eurozone fears were compounded after a report showed pending home sales dropped by the most in a year, sending the S&P 500 index down more than 1 per cent. The broad measure of US stocks is on track to close the month of May 6 per cent lower.