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FTSE 100 and sterling plunge on Brexit panic

Discussion in 'Market News' started by Lily, Jun 24, 2016.

  1. Lily

    Lily Forum Member

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    Panicked traders reacted to the UK’s vote to leave the EU and the prospect of recession amid months of market turmoil

    Shares plunged and the pound plummeted to a 31-year low as panicked traders reacted to the UK’s vote to leave the EU and the prospect of recession amid months of market turmoil.

    The FTSE 100 tumbled 530 points, or 8.4%, within the first few minutes of trading. That mirrored sharp losses for the pound overnight as investors sold sterling on the back of growing worries about the UK’s economic outlook.

    Related: Global markets plunge after UK votes to leave EU – live updates

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