[Reuters] – Stocks on major world markets fell and benchmark U.S. government bond yields hit all-time lows on Tuesday as worries about Britain’s exit from the European Union pushed sterling to a fresh 31-year low, triggering a scramble for the safest and most liquid assets. Investor confidence was undermined by the Bank of England’s warning on the economic risks of “Brexit” and its steps to ensure British banks keep lending, as well as by news of a decline in U.S. factory orders and reports of mixed manufacturing and service sector activity in Asia and Europe. “The consequences of Brexit have put a summer UK interest rate cut squarely on the table, exacerbating negative sentiment towards UK-based assets,” said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.
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