Equities and sterling tumble as Brexit fears intensify

Sterling hits eight-week low

Laura Dew
clock • 1 min read

Fears of a global fallout as a result of a Brexit vote next week led markets lower this afternoon while sterling fell to an eight-week low against the dollar.

Markets in Europe, Asia and US were in the red as polls tightened surrounding the vote on Britain's membership of the EU on 23 June.  In the UK, the FTSE 100 was down 0.7% to 6,070 points with the biggest fallers being Sky, Lloyds Banking Group, Hargreaves Lansdown, 3i and WPP which were all down more than 2%.  In Asia, markets were down significantly with both the Topix and Nikkei down 3.5%, while in the US the S&P 500 was down 0.9% and the tech-heavy Nasdaq fell 1.3%. Meanwhile, the yield on the 10-year gilt hit a fresh low after briefly slipping below 1.2% for the first time and...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

2025 investment trends: The updated reality in wealth management

2025 investment trends: The updated reality in wealth management

'The future of wealth management will lie in personalisation'

Julia Khandoshko
clock 16 January 2025 • 4 min read
UK inflation lowers to 2.5% in December

UK inflation lowers to 2.5% in December

Down from 2.6% in November

Sorin Dojan
clock 15 January 2025 • 2 min read
'It's a challenging time': Advisers react to record gilt yield rises

'It's a challenging time': Advisers react to record gilt yield rises

Clients worried about a weakening UK economy

Isabel Baxter
clock 13 January 2025 • 5 min read