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Fears that other Spanish regions may follow Valencia in seeking a bailout from Madrid have rattled markets.
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http://www.bbc.co.uk/news/business-18950896
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Asian stock markets also fell on Monday amid fears that the ongoing debt problems in eurozone will hurt the region's growth.
Japan's Nikkei 225 index fell 1.9%, South Korea's Kospi dropped 1.8% and Australia's ASX 200 index shed 1.7%.
The eurozone is a key market for Asian exports and there are concerns that demand from the region may decline in the near term.
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Is the perfect storm brewing?