Brexit Fallout to Test Trader Nerves as Asian Markets Open
- Investors remain in shock from decision, says Mizuho’s Nakano
- Markets to stay in febrile state for weeks, NAB’s Attrill says
Brexit: Market Turmoil and Banking System Concerns
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Money managers who suffered through Friday’s rout say uncertainty about the details of Britain’s exit from the European Union has them girding for more volatility as markets open in Asia.
Currencies started the week nervously, with the pound declining more than 2 percent and the euro sliding along with Australia’s dollar and Indonesia’s rupiah. S&P 500 Index futures lost 0.6 percent, while contracts on the U.K.’s FTSE 100 Index sank 4.2 percent as of 10:04 a.m. in Hong Kong on Monday. Among Asian equity markets, only Japan, Australia and China posted gains.