Share plunge 2.75% as fears grow for Spain's economy

The Times
"London’s leading share index fell below the psychologically important 5,000-level this morning, prompted by fears that Europe’s sovereign debt crisis will cause more turmoil across the global financial sector.British banking stocks tumbled, with shares in Lloyds Banking Group down over 6 per cent by 9am. Barclays and Royal Bank of Scotland fell by more than 5 per cent.The FTSE 100 fell to its lowest level since September last year. By 9am it was down 125.98 points to 4,943.53.Over the weekend Spain bailed out CajaSur — the second time that the country has been forced to rescue one of its regional banks — and there are growing fears that its Government might be forced to seek aid following Greece’s high-profile debt problems. "