CHART OF THE DAY: You Won't Believe How Far Spain Has Fallen

Simone Foxman

 Apr. 19, 2012

Spain's IBEX 35 index—which tracks the largest 35 stocks in the Bolsa de Madrid by market capitalization—is down a whopping 19.36 percent year to date.

But this is nothing in comparison to how fall it has fallen since 2007. That index is down a full 9,037.6 points since hitting a high of 15,945.70 on November 8, 2007. Since that time, the index has lost about three-fifths of its value.

The index is not far off its multi-year lows either—if it sees losses of more than 1.31 percent tomorrow then it will be below the crisis low of 6,817.40 set on March 9, 2009.

Ugly stuff.