Bankia shares tumble amid bailout fears

Concern over the bailout plans for troubled Spanish lender Bankia and the country's ability to finance itself sent the nationalised bank's share price plummeting and Spain's borrowing costs soaring today.

Bankia's shares were down 21 % to €1.23 after trading following the bank's announcement on Friday that it will need €19bn in state aid - the country's biggest bailout - to shore itself up against its bad loans. The shares had closed at €1.57 before trading was suspended Friday.