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Posted by: thepinetree on 06/24/2016 01:39 PM
Updated by: thepinetree on 06/24/2016 01:39 PM
Expires: 01/01/2021 12:00 AM
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Dow Drops Just Over 600 Points On Brit's EU Exit Vote
New York, NY...The Dow bounced just a bit off it's low before settling again before the bell to close down 610 points on the day. The drop was precipitated by the United Kingdom voting to exit from the European Union. The breakup my take up to two years but the initial financial shock was reflected today. On some financial indicators Britain is performing better than the EU in general.
The big story on how the financial effects from the vote will shake out will come on Monday as the world markets start the business week after the vote.
The political effects will take longer to see the effects of. With Prime Minister David Cameron indicating he will resign from office not only will the political ripples be seen in the UK and EU many are saying the vote was an indicator on our November election battle for President here as well.
What has many of the talking head class flummoxed is that polling was wrong and the exit was forecast to go down to defeat.
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