The Spanish stock market index Ibex-35 fell 2.44 percent to close at 8,387.70 points, down from the 8,597.50 points of the previous session.
On Tuesday, Sacyr shares led falls losing 9.20 percent, followed by ArcelorMittal, OHL, Banco Santander, Telefonica and DIA that lost 5.97 percent, 5.01 percent, 3.46 percent, 3.42 percent and 3.24 percent respectively, Xinhua news agency reported.
Only AENA shares rose climbing 1.15 percent.
Spain's risk premium closed at 140 points, rising by 7 points from Monday, and Spain's 10-year bond interest rate closed at 1.5 percent.