Portugal's stock market tumbles to 20-year-low

Portugal's stock market fell to 20-year-lows in early trading Friday as a reaction to the UK's referendum decision to leave the European Union (EU).

The PSI-20 principal index fell close to 11% to 4.17 points in early trading, its lowest level since January 1996, EFE news reported.

Shares in Banco Comercial Portugues (BCP), in which Spain's Banco Sabadell has a participation, tumbled more than 17% to trade at just 1.7 euro cents per share.

Analysts are pointing to the so-called Brexit as being responsible for market turbulence across the world, with investors moving money to secure assets such as gold and German bond