US STOCKS-Brexit sets Dow, S&P up for worst two-day drop in 10 months

lunes 27 de junio de 2016 12:53 GYT
 

* Dollar and gold rally; oil drops

* JPMorgan, BofA among biggest drags on S&P 500

* Indexes down: Dow 1.27 pct, S&P 1.54 pct, Nasdaq 2 pct (Updates to early afternoon)

By Yashaswini Swamynathan

June 27 (Reuters) - The selloff in equities, sparked by Britain's vote to exit the European Union, continued on Monday, setting the Dow and S&P 500 on course for their biggest two-day percentage drop in 10 months.

Banks continued to be among the worst hit. The S&P financial index was down nearly 2.48 percent by early afternoon as investors fret about London's future as the region's finance capital and fading chances of a U.S. Federal Reserve rate hike.

JPMorgan, down 3.2 percent, and Bank of America , down 5.4 percent, were among the biggest drags on the S&P 500.

European stocks continued to be pummeled and the sterling dropped more than 2 percent. Safe-haven gold held close to two-year highs, while the more risky crude oil was down 2.6 percent.

The dollar was set for its best two-day percentage gain since 2008, dealing a blow to U.S. companies that get a large portion of sales from overseas.   Continuación...