BEIJING (AP) — Global stocks turned lower Tuesday and the British pound dropped as expectations grew that British lawmakers would reject a plan to leave the European Union.
In midday trading, France’s CAC 40 shed 0.3% to 5,254 while Germany’s DAX lost its gains to trade flat at 11,518. London’s FTSE 100 was also flat, at 7,156, while the pound dropped a sharp 1% on expectations that the latest version of Britain’s Brexit deal with the EU will be voted down by lawmakers on Tuesday.
On Wall Street, the Dow Jones Industrial Average was set to open slightly lower, with future contracts declining 0.1% to 25,625. The Standard & Poor’s 500 futures index fell 0.1% to 2,781.
The pound slumped by more than 1% against the dollar, to $1.3014, after the British Attorney General’s assessment of May’s new deal reinforced expectations that lawmakers will reject it Tuesday.