London, UK, 27 June – Barclays and Royal Bank of Scotland (RBS) temporarily halted trading after their share price tumbled in the wake of Brexit anxiety, losing between 18 and 22 percent Monday morning.
The sudden drop of shares in the two financial giants tripped circuit breakers at the London Stock Exchange causing a five-minute freeze of buying and selling of the affected shares, City A.M reported.
Barclays share trade was halted for five minutes, while RBS tripped the circuit on two separate occasions. The decline came after European lenders bore the brunt of the Brexit outcome with Deutsche Bank and Credit Suisse shares falling to their lowest ever level.
London is considered the financial capital of Europe with banks setting up in UK having unfettered access to other Euro cities without needing additional licenses.
The fall of shares has extended to the airline industry. EasyJet announced Brexit would hurt its business even as it emerged the no-frills airline had lost 19 percent of its share value since Friday.