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Market negative as Spain tilts to the right
Market down as Spain dump Socialists for conservatives; euro debt crisis claims another gov't
By The Associated Press

MADRID (AP) ' Spain's conservative Popular Party has landed itself the gigantic task of lifting the country out of its worst-ever economic crisis following an overwhelming and historic victory in the general election.

The result and promised change in political direction failed to lift financial markets in Spain on Monday with Madrid's key Ibex index down 1.2 percent in early trading.

With the vote count completed, the Popular Party won 186 seats compared with 154 in the last legislature. The Socialists plummeted from 169 seats to 110, their worst performance ever.

"There won't be any miracles. We never promised any," said triumphant Popular Party leader Mariano Rajoy in his victory speech.

"But as we have said before, when things are done properly, the results come in," he added.

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