Europe’s latest efforts to quell its financial crisis left investors exasperated Monday, causing steep losses in stock markets on both sides of the Atlantic.
In Europe, Spain formally asked for help to rescue the country’s ailing banks, but its request left many questions unanswered, including how much it needs of the $125 billion loan package offered by other European governments.
The uncertainty rattled markets and pushed borrowing costs higher for Spain’s government.
Spain’s stock market plunged 3.7 percent.
Big U.S. bank stocks slumped.