Dow loses almost 900 points since Brexit
Global markets sold off for a second straight day on Monday, dragging the British pound to a 31-year low, while gold and safe-haven government debt rallied on Britain's shock vote last week to leave the European Union.
The Dow has lost almost 900 points since the surprise Brexit decision last week led by weakness in banks and tech stocks amid growing fears global turmoil will hurt sales and profits.
The Dow fell below its 200-day moving average. Wall Street was once again under pressure overnight, with Friday's Brexit inspired sell-off continuing.
The Dow Jones industrial average .DJI fell 260.51 points, or 1.5 percent, to 17,140.24, the S&P 500 .SPX lost 36.87 points, or 1.81 percent, to 2,000.54 and the Nasdaq Composite .IXIC dropped 113.54 points, or 2.41 percent, to 4,594.44.
The continued volatility in financial markets continues to benefit gold.
Since Britain's referendum, the S&P 500 has fallen 5.3 percent, its worst two-day slide since August 2015.
Friday's selloff had wiped out $2.08 trillion from global equity markets - the biggest one-day loss ever, according to Standard & Poor's Dow Jones Indices.
Global stocks extend losses, sterling near 30-year lows in Brexit aftermath
Global equities took another step down in Asia on Tuesday, with regional markets sliding and sterling wallowing near three-decade lows as Britain's shock vote to exit the European Union continued to roil financial markets.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slumped 0.3 percent, after Wall Street marked its worst two-day drop in about 10 months.
Japan's Nikkei stock index .N225 was down 1.3 percent in early trading. It has remained volatile in recent days, rebounding 2.4 percent on Monday following its 7.9 percent plunge on Friday.
Reference: Proactive Investors, Reuters
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