RBS and Barclay’s Bank Trading Temporarily Halted due to Price Declines

by John Galt
June 27, 2016 05:15 ET

In what can only be called another amazing morning, the news flow on equities continues to demonstrate that the instability is a long way from over in world equity markets. With the 10 year British Gilt breaking the 1.00% yield mark for the first time in history and the sell off continuing, albeit at a much milder pace, the banking stocks of the U.K. are getting whacked again and this news did not help (via Bloomberg-TV):

Trading in Royal Bank of Scotland and Barclays shares was halted in London on Monday morning on volatility after their share prices continued to crater.

RBS was temporarily halted after falling 14.2%, while Barclays was down 11.5%.

The charts are not pretty:

062716_RBS_HALT_jgfla

062716_BARCLAYS_jgfla

If this continues unchecked, the same request for a trading halt may happen on the NYSE today also. Stay tuned, it’s going to be another long day.

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