Stocks were lower today as Brexit-related worries reverberated again through financial markets.
The pound fell to a fresh low against the dollar today as some U.K. property funds suspended trading and there was continued uncertainty on who would lead the U.K. through the exit negotiation process. Brexit and output worries also sent oil futures down over 4%.
U.S. factory orders were down 1% in May, slightly more than the 0.8% drop expected by economists.
Stocks on the Move
There was limited corporate news this morning.
European markets were mostly lower today. The FTSE 100 was up 0.4% as the weak pound boosted the prospects of the export-heavy index. The Paris CAC was down 1.7% while Germany’s DAX was off 1.8%.