He was passed fit to start against France in Sunday’s final, playing 84 minutes of the 2-1 defeat.
The Premier League champions said: “He has since returned to Manchester for tests and will continue to be monitored.”
Torres scored twice for Spain in their Nations League semi-final win over Italy
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Torres limped off during Spain’s UEFA Nations League semi-final win over Italy, having scored twice in the first half.
Manchester City confirmed he sustained a ‘small fracture’ to his right foot.
Torres has made seven appearances for Manchester City this season, scoring three goals.
The 21-year-old is understood to have picked up the injury during the win over Italy but was deemed fit enough to start the match against France.
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However, subsequent tests revealed the extent of the striker’s injury, which is likely to keep him out of a string of big games for both club and country. City face a Manchester derby at Old Trafford plus a Champions League clash with Paris Saint-Germain within the next six weeks, while Spain play World Cup qualifiers against Greece and Sweden next month.