“The market has been focusing on all the negative stories,” Polcari told the Washington Post. “As long as the tone is negative, any negative story is going to cause a market overreaction. Brexit is certainly one of them. All of a sudden, Brexit has hit a real speed bump. That’s what’s going on.”

Many remained jittery on global markets in recent weeks as the U.S. maintains its hard line approach on trade talks with China. Market observers saw the hiccup in the critical parliamentary vote as another cloud of uncertainty that covered the global outlook.

“This is a tough market,” Steve Chiavarone, who runs Federated Investments’ global allocation fund, told the Wall Street Journal, adding that global tensions are leading investors to price “in a recession where you see some stocks down 30% or 40%.”

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