Banks and
other financial companies fell Monday as investors speculated that the
global upheaval caused by Britain's decision to leave the EU will prompt
the Federal Reserve to hold off on raising its benchmark interest rate.
Banks benefit from higher interest rates, which translate into more
revenue from loans and credit cards. The materials and energy sectors
also slumped.
Investors should prepare for more damage throughout the week leading up to the Independence Day weekend, experts said.
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