The stocks of the United States had ended lower this Tuesday as it gave up the early gains due to the lawmakers of British rejecting the timetable which had been proposed by the government for passing legislation in order to ratify the deal to exit European Union.
The defeat In the parliament has made it unlikely that Britain will finalize their exit by the target of 31st October set by Prime Minister Boris Johnson. Johnson has said that it was EU’s prerogative to decide if it wants to delay the exit and the time it wants to delay the exit for.
Though the impact of the complications in Britain have had limited impact on the markets in US as they have contributed to the uncertainties of the investors about the financial and economic conditions globally according to the strategists.
Experts have said that Brexit is not much of an issue for the equity investors however the suffering which the global economy is going through, although not deadly but certainly is causing pain to the investors.
On Tuesday, the Dow Jones Industrial Average and S&P 500 had a modest rise as the forecasts from United Technologies Corp and Procter & Gamble offset the results from McDonald’s Corp and Travelers Cos Inc.
The shares of Procter & Gamble saw a gain of 2.6% and there was an advance of 2.2% in the United Technologies while the shares of McDonald’s had fallen by % and there wasa decline in the shares of Travelers by 8.3%
After the losses on Tuesday, S&P 500 had fallen below 3000, but managed to remain within 1% of the record closing high of July.