You Know. If Britain's leaders had all just shot themselves in the foot each it would be much less mayhem than this is causing right now. I'm beginning to agree with economists that this could start a worldwide recession for real, unfortunately. It's gone completely out of control without Brexit actually put in place at all by Prime Minister or Parliament. What's crazy is it may not be EVER put in place (on top of all this craziness).
begin quote from:
European
stocks are expected to open lower on Wednesday as fears over political
and economic uncertainty in the European Union (EU) following the Brexit
vote return to global markets
European stocks are expected to open lower on
Wednesday as fears over political and economic uncertainty in the
European Union (EU) following the Brexit vote return to global markets.
The London FTSE index is called to open 30 points lower at 6,513, the German DAX down 147 points at 9,385 and the French CAC down 61 points at 4,102, according to IG.
Growing anxiety about the fallout of the U.K.'s vote to leave the EU has continued to plague markets. Markets in Asia were trading sharply lower on Wednesday, as investors scurried into safe-haven plays on global growth concerns, sending bond yields to record lows.
As a result of the growing uncertainty, the British pound also dropped to a fresh 31-year low amid Brexit concerns, trading at $1.2880 around 5.30 a.m. London time after dropping as low as $1.2796 earlier.
The tumble began on Tuesday as investors flocked to safe-haven assets such as U.S. Treasurys, the yen and the greenback after three U.K. real estate funds, Standard Life, Aviva and M&G Investments halted redemptions and the Bank of England relaxed regulations to encourage banks to lend out more money.
Concerns over the ramifications of the vote and about global growth prompted U.S. stocks to close lower on Tuesday amid record lows in the benchmark 10-year Treasury yield.
In other news, U.K. Home Secretary Theresa May has taken the lead in the race to find a new Conservative party leader and British Prime Minister. May came top in a first round of voting on Tuesday, Liam Fox was eliminated from the race with the fewest amount of votes and Stephen Crabb pulled out of the leadership race leaving May, Andrea Leadsom and Michael Gove to face another round of voting Thursday.
Italian banks remain in focus for investors. Trading in shares of Banca Monte dei Paschi di Siena was halted during Tuesday's session after the European Central Bank asked BMPS to slash its bad debts by over 40 percent in three years, Reuters reported.
Late on Tuesday, market watchdog Consob said short selling of BMPS shares would be banned in Wednesday's trading session, Reuters added.
-CNBC's Saheli Roy Choudhury contributed to this report.
The London FTSE index is called to open 30 points lower at 6,513, the German DAX down 147 points at 9,385 and the French CAC down 61 points at 4,102, according to IG.
Growing anxiety about the fallout of the U.K.'s vote to leave the EU has continued to plague markets. Markets in Asia were trading sharply lower on Wednesday, as investors scurried into safe-haven plays on global growth concerns, sending bond yields to record lows.
As a result of the growing uncertainty, the British pound also dropped to a fresh 31-year low amid Brexit concerns, trading at $1.2880 around 5.30 a.m. London time after dropping as low as $1.2796 earlier.
The tumble began on Tuesday as investors flocked to safe-haven assets such as U.S. Treasurys, the yen and the greenback after three U.K. real estate funds, Standard Life, Aviva and M&G Investments halted redemptions and the Bank of England relaxed regulations to encourage banks to lend out more money.
Concerns over the ramifications of the vote and about global growth prompted U.S. stocks to close lower on Tuesday amid record lows in the benchmark 10-year Treasury yield.
In other news, U.K. Home Secretary Theresa May has taken the lead in the race to find a new Conservative party leader and British Prime Minister. May came top in a first round of voting on Tuesday, Liam Fox was eliminated from the race with the fewest amount of votes and Stephen Crabb pulled out of the leadership race leaving May, Andrea Leadsom and Michael Gove to face another round of voting Thursday.
Italian banks remain in focus for investors. Trading in shares of Banca Monte dei Paschi di Siena was halted during Tuesday's session after the European Central Bank asked BMPS to slash its bad debts by over 40 percent in three years, Reuters reported.
Late on Tuesday, market watchdog Consob said short selling of BMPS shares would be banned in Wednesday's trading session, Reuters added.
-CNBC's Saheli Roy Choudhury contributed to this report.
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