Spain, Italy stocks tumble as bond yields rise

FRANKFURT (MarketWatch)
Spanish and Italian stock indexes extended a slide Friday as government bond yields surged amid ongoing concerns over Spain's debt load
News reports said the Valencia regional government would request aid from the Spanish government's bailout fund in order to refinance debts
Spain's Ibex 35 stock index IBEX -5.82% and Italy's FTSE MIB index 4.38%  dropped
The yield on the 10-year Spanish government bond jumped 0.23 percentage point to 7.19%