Additionally, some money managers were bracing for another round of volatility with the Brexit vote on the line.
“Investors are watching with interest to see the outcome of the Brexit vote today as it has been one of the uncertainties in the market that has been persistent,” Larson added.
“There’s a bit of caution from investors in today’s market,” Sean O’Hara, director of Pacer Financial, told the Wall Street Journal, pointing to a downtick in trading volume and money flows data Tuesday. “There’s a lot of people who are still waiting to see what direction the market goes from here.”
During late trading, Britain’s Parliament defeated Prime Minister Theresa May’s plan to exit the European Union by a 391 to 242 vote that is likely to delay Brexit and could derail it entirely, the New York Times reports. The vote left the country with no obvious road ahead with just 17 days before the deadline for leaving the European Union.
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