European stock markets tumble after ECB announcement
The European stock market tumbled after the European Central Bank's president Mario Draghi addressed a conference dealing with Spain's debt crisis. The price of 10-year Spanish bonds fell pushing yields up to 6.78%.
Dutch and Finnish government bonds also fell, while yields on the Italian 10-year have reached 6.1%. The DAX, CAC, FTSE MIB and IBEX are all down, with Spain's IBEX down by more than 5%.
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