Asset manager and bank shares dive 20% on Brexit vote

Schroders and SJP among biggest fallers

Anna Fedorova
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Asset manager and bank shares dive 20% on Brexit vote

Banks and asset managers have suffered extreme share price falls in early trading, with many down as much as 20% as the Brexit vote spells uncertainty for the UK economy.

One of the biggest fallers on the blue-chip index in morning trading is wealth manager St James's Place, down 20% to 774p.

Insurers Aviva, Legal & General and Standard Life are also plummeting, down 20%, 21% and 17% respectively in early morning trading.

Meanwhile, other asset managers have also suffered significant falls, with Schroders trading 18% lower at £22.30, while Jupiter Fund Management is down 13% at 389p.

Aberdeen Asset Management's share price is also 10% lower at 281p, while Henderson Group is down 16% at 225p.

Barclays tops the index as the biggest faller, trading 25% lower by 8.52am at 140p, while Lloyds Banking Group and RBS follow suit with falls of 24% and 23% respectively.

Meanwhile, housebuilders are also suffering as the Brexit creates uncertainty for the UK economy, and the property sector in particular.

Persimmon, Taylor Wimpey and Barratt Developments are all among the top fallers today, trading 21% lower each.

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