Investors stunned by British voters' unexpected move to exit the European Union and British Prime Minister's subsequent announcement that he would step down sent global markets into a tailspin.
Futures on the Dow Jones Industrial Average were down by 518 points, or 2.9%, at 6:19 a.m. ET points as investors attempted to measure the fallout for global trade. World markets had already begun cratering even as 10% of the votes remained to be counted and pointed to a tight win for voters wanting the United Kingdom to leave the 28-nation EU.
Most polls during the day indicated that voters would not support leaving the EU.
That made the impact from the unprecedented decision even more severe. Japan’s Nikkei 225 index dropped 7.9 percent in volatile trading following the U.K. vote, closing below 15,000 for the first time in more than four months. That’s the steepest drop in more than 16 years.
In Europe, the German DAX plunged 7%, while London's FTSE 100 slid 10.1% and the broad Stoxx Europe 600 index was down 7.1%. France's CAC 40 was off 8.1%.
The British sterling dropped 10% to a 31-year low and the euro fell by 3.8%. Meanwhile, the yen surged, briefly trading below 100 yen to the dollar for the first time since November 2013.
The margin of victory for "Brexit" in the referendum was 52% to 48%. "Leave" supporters argued that severing ties with the EU is the only way to reduce high levels of immigration and ensure the U.K.'s sovereignty over EU regulations. “Remainers” said jobs, the economy, national security and the U.K.'s standing on the world stage would be compromised outside the 28-member bloc.
Emergency meetings were called around Europe Friday to deal with the fallout from the vote. “This result clearly has very significant implications for Ireland, as well as for Britain and for the European Union," a statement from the Irish government said ahead of an emergency cabinet meeting. German Chancellor Angela Merkel was expected to make a statement following a meeting with lawmakers in Berlin.
Trump drew other parallels between his campaign and the support for the decision to leave the EU. “People are angry," he said. "All over the world they're angry. They are angry at the borders. They are angry over people coming into the country and taking over."
You brought Trumps name into this discussion and then tried to say he made it all about himself. He's allowed an opinion just like you are. England will get along just fine no matter what Americans think about it.
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“Until I discovered cooking, I was never really interested in anything.” ― Julia Child ―
I quoted HIS remarks...where HE made it all about himself.
So how about letting the grownups talk on this ONE thread?
flan
Well, ironically, you posted from a website that actually seems to not play one side or the other, at least today it isn't. Brexit even predicts that this will have a positive affect on Trump's campaign.
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Sometimes you're the windshield, and sometimes you're the bug.
I quoted HIS remarks...where HE made it all about himself.
So how about letting the grownups talk on this ONE thread?
flan
Well, ironically, you posted from a website that actually seems to not play one side or the other, at least today it isn't. Brexit even predicts that this will have a positive affect on Trump's campaign.
Trump drew other parallels between his campaign and the support for the decision to leave the EU. “People are angry," he said. "All over the world they're angry. They are angry at the borders. They are angry over people coming into the country and taking over."
(Lest anyone forget...it's all about the Donald)
flan
Damn right they are angry. This "migrant crisis" is a hostile invasion. It is no different then another country storming your land with guns. Same thing. They aren't coming to America to be Americans. They aren't going to Europe to adopt the ways and culture of Europe. Europe as we know it will cease to exist once they take hold.
I quoted HIS remarks...where HE made it all about himself.
So how about letting the grownups talk on this ONE thread?
flan
Well, ironically, you posted from a website that actually seems to not play one side or the other, at least today it isn't. Brexit even predicts that this will have a positive affect on Trump's campaign.
