FIRST AIRED: November 3, 2016

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

We've got more news

Get our editor’s daily email summary of what’s going on in the world.

US Edition
Intl. Edition
Replay Program

Markets

Global markets turn gloomy ahead of Fed, Brexit votes

Opening Sequence

Opening Sequence

Markets

Global markets turn gloomy ahead of Fed, Brexit votes

0:00
16:24
More Info

COMING UP:Global markets turn gloomy ahead of Fed, Brexit votes

×

Transcript

00:00:01
>> Wall Street getting a case of the jitters ahead of two potentially major market moving events. I'm Reuters reporter Conway Gibbons watching the markets for you from New York. At one point, the selling was so intense that the S&P 500 was down more than a full percent and that's something that hasn't happened in more than two months.
00:00:21
Rising worries about the timing of a Federal Reserve interest rate hike pulling stocks down in the biggest two-day selloff in more than a month. Fed Chair Janet Yellen begins presiding over a two day meeting on this Tuesday. While most investors are not expecting the Fed to raise rates for only the second time since the financial crisis, others are not so sure.
00:00:42
In her last public comments, Yellen gave a mostly rosy outlook on the economy despite the slowest hiring in more than five years. Nearly all of the ten sectors in the S&P 500 are trading lower, but particularly weak are the financials. They are leading the way down. Now, banks have been waiting for a long time for interest rates to go higher and as it appears, they are going to have to wait longer.
00:01:09
Investors also on edge over a vote later this moth about whether the United Kingdom should pull out of the Euro zone. Both events have the potential to provide an unwelcome surprise to financial markets, a risk some investors aren't willing to take heading into the weekend.