Ibex 35 Slides Over 2% as Trump Trade Ban Hits Spain

Spain’s benchmark Ibex 35 posted its worst week in two months, falling 2.35% to 19,384.7 points and slipping below the psychological 20,000‑point mark. The decline was triggered by President Donald Trump’s order to suspend trade with Spain, which investors read as a warning to the EU, and was compounded by heightened geopolitical tension after U.S. strikes on Iranian positions and Tehran’s retaliation against U.S. interests in the Middle East.

Sector performance was mixed: ArcelorMittal gained 6.27%, while Indra fell 4.33% after UBS cut its price target. Analysts noted that the market now balances recovery hopes from upcoming corporate earnings against the growing regulatory and geopolitical risks.