European shares dip to 4-month minimum because of Brexit
On Monday, European stock markets spent another day in negative territory, still being driven by the recent Brexit referendum conducted the previous week, thus casting shadow over the global financial markets.
The Stoxx Europe 600 index was deprived of 1.3%, hitting 317.68. As a result, the benchmark found itself on track for the lowest close since mid-February.
Monday’s loss actually followed a 7% dip on Friday, when the pan-European benchmark reported its worst trading outcome since October 2008. By the way, it took place in the wake of the Lehman Brothers bankruptcy, after Great Britain voted to break up with Europe.
Uncertainties following the United Kingdom’s decision to abandon the European Union with the previous week’s referendum will keep being a powerful source of volatility for global equities. As follows from this, global equity indices could fall to far lower levels in the nearer weeks, as some financial analysts state.