Which sectors will be hit hardest by a hung parliament?

Tom Stevenson, investment director at Fidelity International, looks at the possible outcomes of a hung parliament.

Elections have at times exerted a considerable short-term influence on financial markets but the impact of the last three, while Labour has been in power, has been more muted. Possible reasons include the independence of the Bank of England, the increasingly global links between markets and the high proportion of profits earned overseas by UK listed companies which makes domestic issues increasingly less important. However, this time may see a reversion to the more extreme market reactions of 1974 and 1992 because a lot is at stake economically and because the outcome is harder to call t...