Post-Brexit Drop in Stocks Viewed as Economic Indicator
Falling stock prices after the U.K. vote to leave the European Union point toward worsening economic data, according to Keith Parker, a global equity strategist at Barclays Plc. Parker compared the MSCI All Country World Index, a benchmark for developed and emerging markets, with a Citigroup economic surprise index for the Group of 10 countries in a report Monday. “Data developments will likely be net negative for risk,” he wrote.