RBS slumps 25% as Brexit puts bank shares under severe strain

Discussion in 'Market News' started by Lily, Jun 27, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Stock drop took RBS back to 2009 levels, while shares in Barclays and Lloyds Banking Group also fell sharply

    Bank shares are under severe pressure after the Brexit vote, with bailed out Royal Bank of Scotland shedding a quarter of its stock market value at one point.

    The 25% slump in RBS shares on Monday took the bank, still 73% owned by the taxpayer, back to levels last seen in February 2009. They later regained some ground, but by mid-afternoon were still down nearly 17% on the day.

    Related: Pound hits new 31-year low, as Brexit fears grip markets – business live

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