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Markets

Markets on edge as Brexit jitters return

Opening sequence

Opening sequence

Markets

Markets on edge as Brexit jitters return

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COMING UP:Markets on edge as Brexit jitters return

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Transcript

00:00:02
>> Global markets taking a fresh Brexit pounding on Wednesday. Britain's currency falling to a 30-year low as investors get the familiar sinking feeling that economies around the world could be in for a rough time after Britain voted to leave the EU. Asian companies like Toyota that are major exporters to Europe sliding in the gloom with Japan's benchmark Nikkei index falling more than 3%.
00:00:24
And it's not just Europe and Japan where the outlook is darkening. China's premier said it could be hard for the world's number two economy to hold on to economic growth projections which are already below 7%. China's yuan currency is now hovering at five and a half year lows.
00:00:42
Investors had been expecting central banks to ease the pain of Brexit by further lowering interest rates. But with rates in most countries near, or already at historical lows, authorities are running out of options. Now investors are searching for the safest place they can park their money from US treasuries to gold.
00:01:02
And even if Brexit fears fade from the daily headlines in the next few weeks, experts say volatile markets are sure to be reignited by worries over the future of the European Union as a whole.