The shares of Barclays Plc and Royal Bank of Scotland Plc fell so fast that they were halted. EasyJet Plc and Foxtons Group Plc warned they may take a hit, and almost two-thirds of members of the Institute of Directors said the Brexit vote is negative for their business. The FTSE 100 fell 2.5 percent and 10-year gilt yields fell below 1 percent for the first time on record. Osborne, who had warned that a Brexit would trigger a “DIY recession” and require an emergency squeeze of fiscal policy, downplayed those warnings on Monday. A new Cabinet Office unit, comprising officials from the Treasury and Foreign Office will start doing the groundwork for leaving the EU, which Britain joined in 1973.

Source: Mint June 27, 2016 15:01 UTC