Market fears over the upcoming departure of the UK from the European Union (EU) on 29 March are becoming like the 'Y2K bug', according to Quilter Cheviot's chief investment strategist Alan McIntosh.
In the run-up to the new millennium panic set in as firms worried about their computers crashing as the date ticked over to 2000, a phenomenon known as the 'Y2K bug', which could have potentially crashed the stockmarket, although these fears turned out to be unfounded come 1 January. McIntosh, who was a founding partner of Cheviot Asset Management before its merger with Quilter in 2012, said the current climate of Brexit unknowns echoes this unnecessary panic as markets struggle to come to terms with a potential no-deal scenario. 'Brexit will cast a shadow for years to come': What is ...
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