Markets Right Now: US stocks, British pound fall further

AP News
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Posted: Jun 27, 2016 4:08 PM

NEW YORK (AP) — The latest on developments in global financial markets (all times local):

4:00 p.m.

Stocks are closing broadly lower in the U.S. as investors continue to grapple with the fallout of Britain's vote to leave the European Union.

The British pound fell further on Monday as traders expected the British economy to suffer because of the "leave" vote. Also Monday Standard & Poor's stripped the country of its top-shelf credit rating.

The Dow Jones industrial average fell 260 points, or 1.5 percent, to 17,140.

The Standard & Poor's 500 index lost 36 points, or 1.8 percent, to 2,000. The Nasdaq composite gave up 113 points, or 2.4 percent, to 4,594.

Stocks fell 3 percent in France and Germany and 2.5 percent in Britain.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.46 percent.

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11:45 a.m.

Stocks are moving lower on Wall Street following bigger losses in Europe as investors continue to grapple with the fallout of Britain's vote to leave the European Union.

The British pound continued to fall Monday as traders expected the British economy would take a hit.

The Dow Jones industrial average fell 248 points, or 1.4 percent, to 17,152.

The Standard & Poor's 500 index lost 35 points, or 1.7 percent, to 2,002. The Nasdaq composite gave up 106 points, or 2.3 percent, to 4,601.

European markets also fell. Benchmark indexes were down 3 percent in France and Germany and 2.5 percent in Britain.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.47 percent.

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9:35 a.m.

Stocks are opening lower on Wall Street following bigger losses in Europe as investors continue to grapple with the fallout of Britain's vote to leave the European Union.

The British pound continued to fall Monday as traders expected the British economy would take a hit.

The Dow Jones industrial average was down 178 points, or 1 percent, to 17,220.

The Standard & Poor's 500 index lost 20 points, also 1 percent, to 2,017. The Nasdaq composite gave up 50 points, or 1.1 percent, to 4,657.

The declines were far more modest than on Friday, when the Dow and S&P 500 had their biggest drops since August.

Major European indexes were down about 2 percent

Bond prices rose. The yield on the 10-year Treasury note fell to 1.49 percent.