Madrid - The Madrid stock market maintained a downward trend on Tuesday, though the Ibex-35 main index began to recover after dipping 2.3 per cent in reaction to the turmoil on Wall Street.

The Santander bank fell 3.15 per cent, Banco Bilbao Vizcaya Argentaria (BBVA) 2 per cent, the oil company Repsol 1.81 per cent and the telecommunications giant Telefonica 1.49 per cent after trading started in the morning.

The airline Iberia plunged by as much as 9.25 per cent. Only three energy companies made gains. (dpa)