European markets followed Asia down this morning as Brexit jitters persist.
The pound fell to new 31-year lows against the dollar in the Asian session and was recently at $1.2928, a fall of 0.72%.
In London, the internationally focused FTSE 100 was recently down 0.17% at 6,533.94.
Property and home building companies remained under pressure today. Barratt Developments (BTDPY) lost close to 5% this morning. Taylor Wimpey (TWODY) and Berkeley Group were down more than 3% and almost 2%, respectively. Hammerson and British Land (BTLCY) had each lost more than 2%.
This comes after three real estate funds halted redemptions by retail investors who fear a crash in the commercial property market due to Brexit. Aviva Investors, M&G Investments and Standard Life said they had stopped investors taking money out due to lack of liquidity.
Meanwhile, precious metal miners rose as safe haven asset gold was up 0.94% at $1,369.34 an ounce.
Secure Trust Bank rose sharply in early trading but then erased gains as the lender said it has "virtually no exposure" to commercial real estate and isn't involved in the buy-to-let residential property market. It was responding to comments Tuesday in the Bank of England's twice-yearly Financial Stability Report that raised real estate as a post-Brexit danger zone and sent shares in small "challenger" banks plunging.
In Italy Monte dei Paschi di Siena (BMDPY) was up more than 7% after the financial regulator banned shortselling in the troubled bank.
In Frankfurt, the Dax also slumped at the start of the morning session, it was recently down 1.83% at 9,357.73. The French benchmark index the Cac 40 fell 1.78% to 4,089.29.
In Germany, factory orders in May remained unchained from April's reading of a fall of 1.9%. Analysts were predicting a rise of 1%. Germany's statistical office, Destatis, said that orders fell by 0.2% on the year, a decline of 0.4% from April. Analysts were expecting a 0.9% growth for the year.
Commerzbank (CRZBY) and Deutsche Bank(DB) - Get Report were among the biggest fallers on the Dax, slipping more than 3%. Daimler (DDAIY) and Volkswagen (VLKAY) down more than 2% and 3%, respectively, after reports yesterday that German antitrust regulators had raided the companies last month over their steel purchasing.
Yields on 10-year government bonds were down across Germany, France, the U.K., Spain and Italy, with the 10-year bund yield in Germany down 2 basis points at minus 0.20%. In Asia, Treasury yields, and yields on Japanese and Australian debt had fallen to new records.
The 10-year Treasury yield was recently down 5 basis points at 1.32%.
West Texas Intermediate crude oil was recently down 0.45% at $46.39 per barrel.
S&P 500 mini futures were recently down 0.49% and Dow Jones Industrial mini futures were trading down 0.43%.
In Toyko, the Nikkei 225 lost 1.85% to close at 15, 378.99 and the Topix was down 1.79% at 1,234.20.
In Hong Kong, the Hang Seng slid 1.64% to end at 20,410.13.
On mainland China, the CSI 300 bucked the trend, closing 0.27% up at 3,215.88.