Global shares were plunging today as Spain appeared closer to needing a sovereign bailout and fears grew that Greece may be approaching an exit from the euro zone. In Wall Street, the Dow Jones industrial average dropped 149.47 points, or 1.17 percent, to 12,673.10. The Standard & Poor's 500 Index lost 17.25 points, or 1.27 percent, to 1,345.41. The Nasdaq Composite Index fell 60.32 points, or 2.06 percent, to 2,864.98. In Europe, shares fell sharply as investors grew more concerned that Spain may need a full soveeign bailout after a second region indicated it would likely need government help. The FTSEurofirst 300 index was down 1.4 percent at 1,034.16 points while the euro zone's Euro STOXX 50 index shed 1.8 percent to 2,196.14 points. In Asia, Japan's Nikkei share average posted its biggest fall in a month and a half as it sank to a six-week low on Monday, hit by renewed fears that Spain may need a full-blown bailout and by the subsequent rise in the yen. The Nikkei shed 1.9 percent to 8,508.32, the lowest close since June 8. The broader Topix index fell 1.8 percent to 720.62, having fallen in 11 of the past 12 sessions.

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