The FTSE 100 just crashed to its lowest level in 4 months
All of continental Europe's major indexes were down at least 1% at the close, with several seeing losses of more than 2% on a day when stocks fell substantially for a fourth consecutive trading session.
The FTSE 100 in Britain saw a large fall - down 2.1% to 5,918 points. It's the first time since February the index has ended the day lower than 6,000 points. All but two stocks - engineering firm Meggitt, and equipment rental company Ashtead - were lower on the day.
Mining companies were hit hardest, with Anglo American and copper miner Antofagasta down more than 4%. Here's how the FTSE closed on Tuesday:
Two banks were down more than 5% on the week's second day of trading, while several others lost at least 3%. Here's how the MIB looked on the day:
- German DAX: 1.33% to 9,529
- French CAC 40: down 2.21% to 4,133
- Spanish IBEX 35: down 2.10% to 8,129
- Eurostoxx 50: down 2.13% to 2,801
As stocks across the continent fell, bond prices continued to rally, sending yields lower. Germany's benchmark 10-year Bund yield dropped into negative territory for the first time in history on Tuesday, while British Gilts also plumbed all-time lows. Investors are pouring money into bonds at a record rate as they look for safe haven amid global uncertainty, much of which is centred on the increasing likelihood that Britain will vote to leave the European Union.