A large loop area constitutes a larger inductance around that path since the larger area causes larger magnetic fields to be created. These larger magnetic fields impede the changes in current around that same loop. This is seen by any signal that is trying to traverse that path as an AC impedance that rises with frequency. All fundamental stuff, right?
So, say you have a fast signal that is to go from A to B along a pcb track. The signal travels as a charge wavefront along that track. But it also has to find a a return path to the source as all signals must. This is true be it a fast digital pulse or an RF signal or audio or whatever. If the least-impedance path is on a ground plane layer right under the track in question, the loop is small (squished flat), has low inductance and the impedance of the entire loop is relatively low. All signals can travel that path with little loss or distortion as long as the terminating impedance is matched to the transmission line. If that path has a slot in the ground plane partway along or the track take a detour away from an easy return path then the return current must find a path around that slot, extending its length and enlarging the round-trip loop. Bigger inductance and losses result. Also all signals will reflect from the change in impedance that occurs at every change in path. This causes reflections, more radiation, etc, etc. For fast digital stuff that spells possible data loss, for high-quality high-bandwidth (video) analog it means distortion and even for high-end audio it can mean a not-so-great frequency response.
If that wasn't bad enough then there is another effect that shows up as a dual of the radiation situation. Any element that can radiate energy can intercept it as well. So any bad pcb layout that allows signals to radiate can be a victim of EMI susceptibility of the same kinds of signals. A wire that transmits at X MHz will also receive the same. Usually this isn't so bad since the signal level that will be captured on such a wire from an outside source is much lower than the signals it normally carries but it can happen anyway.