From Washington’s Blog:
The market rallied for a couple of hours on news of the $100 billion dollar Spanish bailout (which everyone is calling the Spailout) … and then crashed.
Bloomberg notes:
U.S. stocks fell, following the biggest weekly rally in the Standard & Poor’s 500 Index this year, as optimism over Spain’s bailout plan gave way to skepticism it will succeed in halting the debt crisis.
…”The Spanish deal is another Band-Aid,” said [...]
