American stocks tanked Friday after a major Spanish lender announced that it will need nearly $23 billion in bailout funds. Meanwhile, Standard & Poor's cut the ratings of Spain's top two banks to "junk" status and downgraded two more. The Bankia debacle spells trouble for Spain's already fragile economy, and loan losses from the 2008 property crash could make the country seek international aid. Bankia is the country's fourth-largest bank with 10 percent of the people's deposits.
