Pound Plunges on Looming Brexit; Google to Unveil Tech Gadgets

The British pound plunged to a 31 year low against the dollar Tuesday, as Brexit fears came back into focus.  U.K. Prime Minister Theresa May said the 2-year process of withdrawing from the European Union will begin in roughly 6 months -- in March 2017. The FTSE 100 rose 1.7% following the pound's decline.  Deutsche Bank (DB) - Get Report was back in focus after markets in Germany were closed on Monday due to a holiday. The U.S. Justice Department demands $14 billion for toxic securities the bank sold during the financial crisis. Deutsche Bank only has about $6 billion set aside in reserves for legal fees, sparking worries the bank isn't solvent. Media reports suggest the bank's settlement with the Justice Department may end up falling to the $5 billion range.  Alphabet's Google (GOOGL) - Get Report is holding an event in San Francisco later today where it's expected to announce a slew of tech gadgets, including new smartphones, a virtual reality headset and a personal assistant device that may rival Amazon's Echo. TheStreet's Scott Gamm reports from the Nasdaq.