Spanish Stocks Tumble After Trump Makes Trade Threats

Dow Jones07-08 18:15

At today's NATO summit in Turkey, President Trump lashed out at Spain, which closed its airspace to U.S. planes involved in the Iran war.

"We don't want to do any trade business with Spain anymore," Trump said in Ankara, Turkey. "I don't want anything to do with Spain. Cut off all trade with Spain, please."

Madrid-listed banks slid sharply, with Banco Santander and BBVA losing more than 4.5% and 3%, respectively. The consequences of Trump's comments are unclear, given Europe trades as a bloc through the European Union.

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