SPAIN IN CRISIS: Stock market crash over Catalonia chaos — ‘WORST outcome for Madrid’

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Spain’s control borrowing costs also surged, while the euro drifted cut against the dollar as investors weighed fallout from the violent administer crackdown on Catalans on Sunday. 

This morning local officials announced 90 per cent of those who voted in the debated referendum on Sunday, which Madrid deemed illegal, called for self-government from Spain. 

Around 2.26 million people took go away in the ballot, representing around 42.3 per cent of Catalonia’s 5.34 million voters. 

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Catalonia referendum: Spain’s founder market came under pressure after Catalans voted for autonomy

The northeastern region of People clash with Spanish Guardia Civil

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Individual clash with Spanish Guardia Civil

It is clear that jeopardizes to government stability are increasing

Federico Santi, an analyst at Eurasia Heap in London,

He added: “There was violence but they didn’t stop the franchise either and public opinion in Catalonia is more polarised.

«It is clear that hazards to government stability are increasing.»

Spain’s mainstream political parties give birth to largely backed Mr Rajoy’s opposition to the Catalonia independence referendum, but the prime aid faces criticism over his handling of the issue. 

Nearly 850 human being were injured when police clashed with independence protesters on Sunday as t-men in riot gear closed polling stations and used batons to a stop to voters from reaching the ballot boxes. 

Catalonia referendum independence Spain GETTY

Catalonia referendum: Spain’s oversight borrowing costs surged as investors weighed fallout

Meanwhile, Spanish evidences denied accusations of police brutality and claimed that no referendum had entranced place.

Following the vote, Spanish government bond yields move 7 basis points to 1.68 per cent, while the cost of insuring contact to Spanish debt via credit default swaps rose to a near one-month record. 

S&P Global affirmed Spain’s BBB+ credit rating on Friday, but said forces between the central government and Catalan authorities could impact topic confidence and investment. 

Spain’s benchmark IBEX equity index dropped nearly 1.3 per cent as banks Banco de Sabadell and Caixabank, both anchored in Catalonia, dropped 5.3 per cent and 4.4 per cent respectively.