Brexit fear factor sends global stock markets into tailspin
- 8 years ago
Fears Britain is on the verge of voting to leave the European Union next week had a ripple effect on global markets Monday, sending Asian and European shares vastly lower and the pound to an eight-week low.
A weak world economy and mediocre jobs data suggest even the United States is not ready for the higher interest rates that banks say they need to shore up profitability, while concerns that a vote for Brexit could tip Europe back into recession play in the back of most people's minds.
Those concerns came to fruition Monday, however, as European shares fell 1.5 percent drop and Asian stock markets logged their biggest falls in four months
A weak world economy and mediocre jobs data suggest even the United States is not ready for the higher interest rates that banks say they need to shore up profitability, while concerns that a vote for Brexit could tip Europe back into recession play in the back of most people's minds.
Those concerns came to fruition Monday, however, as European shares fell 1.5 percent drop and Asian stock markets logged their biggest falls in four months