MONEYWATCH
Investors give thumbs down to Spanish bank rescue
June 11, 2012
June 11, 2012
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(CBS/AP) NEW YORK - Investors aren't sold on a rescue of Spanish banks.
Stocks fell on Wall Street, an early rally faded on European stock exchanges, and borrowing costs for Spain crept higher on the bond market Monday - all expressions of doubt about the latest fix for a debt crisis in Europe.
Investors were uncertain whether the rescue package would be enough to save the Spanish banks and whether the terms of the loan, still undisclosed, would deliver another blow to the recession-hobbled Spanish economy.
"People want to see clarity," said Stephen Carl, head of equity trading at
Stocks fell on Wall Street, an early rally faded on European stock exchanges, and borrowing costs for Spain crept higher on the bond market Monday - all expressions of doubt about the latest fix for a debt crisis in Europe.
Investors were uncertain whether the rescue package would be enough to save the Spanish banks and whether the terms of the loan, still undisclosed, would deliver another blow to the recession-hobbled Spanish economy.
"People want to see clarity," said Stephen Carl, head of equity trading at
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