The IBEX 35 starts the session with drops of around 0.4 percent and makes it lose 8,800 points by a minimum.
The comeback is complicated because only three securities of the selective trade in positive: Bankinter (+1 percent), Repsol (+0.6 percent) and Mapfre (+0.5 percent).
The biggest falls are recorded by Fluidra (-2 percent), Siemens Gamesa (-1.5 percent) and Indra (-1.25 percent).
The scale of the price of oil and inflation are once again the protagonists for investors and in the rest of the markets of the Old Continent the falls are more bulky with the CAC 40, FTSE 100, the DAX 40 and the FTSE MIB losing more than 1 percent hundred.
The Eurostoxx 50 is left 1.5 percent in the first hour of trading.