In Spanish the stress in words depends on how the word ends. If the word ends in an -s or an -n or a vowel, then the word stress is on the last but one syllable, otherwise on the last syllable. Syllables with an accent always have the stress. Read more for a more comprehensive explanation...
Does the word end in an -s or an -n or a vowel? Then the word stress is on the last syllable but one:
banco
dentista
libros
señora
If the word only exists of one syllable, then the stress is on that syllable, for example:
ya
Does the word end in a consonant (not -s or -n)? Then the word stress is on the last syllable, for example:
Madrid
señor
ordenador
If a vowel has an acute accent (acento agudo), then that syllable always has the word stress, for example:
teléfono
también
Córdoba
información
Málaga
There are strong vowels (a, e, o) and weak vowels (i, y, u). A weak and strong vowel standing together are considered one vowel which is called a diphtong (diptongo). For example:
hielo
fuerte
cuando
The verb preferir isn't the only verb with a diphtong in the conjugation. Many more verbs have a stem change. See the verb categories with diphtong ie y diptongo ue.
If the weak vowel is separated from the strong vowel with an accent the vowel with the accent receives the stress:
vacío
día
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