British Prime Minister Theresa May gave the most detailed description yet for her vision of Brexit in a speech Tuesday, and her words triggered a bout of selling on London's FTSE index, which was down more than 1%.
What she said:
- The U.K. will pursue an equal partnership between a fully independent Britain and the EU — no "half-in, half-out" arrangements will be sought
- Her top priority will be ending the jurisdiction of the European Court of Justice in Britain, and bringing back to Parliament full control over immigration policy
- May would like to achieve these goals while still pursuing strong free trade arrangements with the EU and the rest of the world.