Stocks and risk assets could continue to get smacked and currency volatility remain at extreme highs this week as investors weigh the fallout of the UK Brexit vote. Analysts warn the market moves in stocks and bonds and other assets could also be more exaggerated than normal, as fund managers around the world juggle positions, selling both winners and losers ahead of the end of the second quarter Thursday.
US stock futures were in the red, and investors moved into bonds and gold as the potential impact on financial markets and the global economy remained unclear. Japanese stocks were higher in early trading Monday morning after Japanese officials signaled they may take action to control the wild move higher in the yen.
The shock of Thursday's vote by the UK to leave the European union triggered Friday's selling avalanche, resulting in a record $2 trillion wipe out in global stock markets. Currency volatility was at an extreme high, with sterling the most dramatic, swinging from 1.50 to the dollar to a 30-year low of 1.32. It remained under pressure Sunday, trading at about 1.338.
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