article_snippet.sent: A hung parliament could send financial markets into a tailspin and the pound and shares crashing, experts warned last night.
article_snippet.sent: The sell-off could accelerate and spread to the stock and bond markets – driving share prices down and borrowing costs up for the government, businesses and families, analysts warned.
article_snippet.sent: There may be no good outcome for investors.
article_snippet.sent: Currencies react badly to political uncertainty,’ said currency firm Argentex managing director Harry Adams.
article_snippet.sent: Veteran City commentator David Buik, an analyst at stock broker Panmure Gordon, said a hung parliament could be hugely damaging for the investors in stocks and shares such as those saving for a pension.
article_snippet.sent: Markets are incapable of dealing with uncertainty,’ he said.
article_snippet.sent: an outcome that could send the stock market down by ten to 15 per cent
article_snippet.sent: The negative perception that this kind of government could have on markets could be visceral both at home and internationally,’ said Mr Buik.
article_snippet.sent: A hard-hitting report by BlackRock, the largest fund manager in the world, said yesterday that ‘a soothing outcome for the markets is hard to imagine’ given Labour’s anti-business policies and Tory plans to hold a referendum on Britain’ s membership of the European Union.
article_snippet.sent: ‘Labour would be tough on business – and might be perceived as lacking fiscal responsibility,’ business – said in A hard-hitting report by BlackRock, the largest fund manager in the world.
article_snippet.sent: ’ BlackRock, which invests in major British companies such as Tesco, said weeks of horse-trading to form a government would be ‘harrowing for the UK’.