Threat of 'hard Brexit' Pulls down Wall Street

US stocks dropped on Tuesday as investors fretted about Britain's exit from the European Union and the prospect of a Federal Reserve interest rate hike in coming months. 

 

It was the second straight session of losses on Wall Street, where investors were already on edge due to the uncertainty of a tight race ahead of the Nov. 8 presidential election. 

 

Sterling slid to its lowest in more than three decades after British Prime Minister Theresa May said the country's divorce from the EU will not be "plain sailing" and that there would be "bumps in the road." While the weaker pound sent UK stocks surging, it raised worries among US investors.

 

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