The S&P 500 Index wiped out all of a 1 percent decline, while futures on the Euro Stoxx 50 gauge advanced amid a steady, day-long easing in bookmakers’ odds on the U.K. exiting. The pound ended little changed after sliding as much as 1.3 percent. Campaigning for the referendum was suspended by both sides Thursday after Labour Party lawmaker Jo Cox was murdered as she met constituents in her district. Treasuries gave up most of their gains, while oil tumbled to a one-month low amid a selloff in industrial and precious metals.

David Fuller's view

Over the last week or more many markets have been moving in kneejerk response to Brexit polls, a few of which may have been misleading.  The Remain versus Leave debate was always likely to be passionate, given the importance of this referendum, and it was becoming increasingly divisive.  The brutal tragedy of MP Jo Cox’s murder earlier today is understandably have a sobering effect on the campaign.  Hopefully, this continues through next week’s referendum. 

Meanwhile, many short-term trends in the markets are overextended.