Banks and financial markets take the first blow; the second lands on insurers and fund managers as owners of stocks and bonds. For fund managers, the equation is straightforward: lower asset values and the likelihood of investors... Just like the financial crisis, Brexit threatens to deliver a one-two punch to the finance industry. Both have suffered big stock price falls in the past two days as investors anticipated this.

Source: Wall Street Journal June 27, 2016 14:37 UTC