Shares across Europe fell 5.8pc last month. Markets in London and the US were closed yesterday, but shares in continental Europe shook off the cut to Spain's credit rating on Friday, with stock markets rising 0.3pc.

Bond markets also largely took Spain’s downgrade in their stride. The spread between Spanish government debt and German government debt widened by seven basis points to 164 basis points, but analysts do not expect the gap to widen much further when UK and US markets re-open today.

Spain has found itself in the spotlight of investor concern over its sovereign debt, after a bailout of Greece was agreed last month.

Ratings agency Fitch stripped the indebted nation of the top AAA credit rating on Friday after the markets closed. The downgrade to AA+ followed StandardStory highlights The former volunteer is racking up legal fees after hiring a lawyer to respond to the Russia probe

"My heart aches," a former campaign official said of ex-staffers who might be caught up in the investigation

(CNN) A former Trump campaign aide is requesting that President Donald Trump set up a legal fund to help associates ensnared in the federal probe into Trump campaign contacts with Russia.

The ex-staff member, who told CNN he is racking up legal fees after hiring an attorney in order to respond to questions from federal investigators, also said he was never paid for his work for the campaign. He requested anonymity to speak candidly.

"In many ways, the Trump associates are the real victims here," the ex-staffer said.

"The world (is) going after them and