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US stock market and Brexit: a toxic blend of uncertainty and complacency

Discussion in 'Market News' started by Lily, Jun 26, 2016.

  1. Lily

    Lily Forum Member

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    As global stock markets tumbled and sought ‘safe heavens’ in reaction to the referendum vote, US is left with a formidable set of unknown risks to stability

    Welcome to Brexit bedlam. Within minutes of it becoming clear that Britons had voted to divorce 43-year-old marriage to what started off as the Common Market and evolved into the European Union, virtually every financial market in the world was tumbling. The exception: currency and debt markets outside Europe, as investors sought refuge in US Treasurys and other “safe haven” securities.

    By midday Friday, major US market indexes had tumbled between 3% to nearly 4%, causing some $675bn in market value to simply go up in smoke and erasing all this year’s hard earned gains.

    Related: A pyrrhic victory? Boris Johnson wakes up to the costs of Brexit

    Related: EU referendum morning briefing - sign up here

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