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Brexit Upends Global Markets as Stocks, Pound Plunge; Yen Soars

Posted by Chris Advincula on Jun 24, 2016 7:17:21 AM

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(June 24 Bloomberg) Global markets buckled as Britain's vote to leave the European Union drove the pound to the lowest in more than 30 years and European banks to their steepest losses on record. 

"It's scary, and I've never seen anything like it," said James Butterfill, 41 head of research and investments at ETF Securities in London. "A lot of people were caught out, and many investors will lose a lot of money."

Sterling slid the most on record and European stocks headed for the biggest drop since 2008 as trading soared. The yen strengthened past 100 per dollar for the first time since 2013, gold rose the most in more than seven years and benchmark Treasury yields had their biggest drop since 2009.

Click on the link below to see the full story from Bloomberg: (by James Regan and Stephen Kirkland)

Brexit Upends Global Markets as Stocks, Pound Plunge; Yen Soars

 

stocks.pic.6.24.2016.jpg 

 

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Topics: GBPUSD, Europe, Forex, UK, EURUSD, GBPUSD, USDJPY, USDCHF,, BREXIT

 

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