Monday, June 27, 2016

 

A stunning $2.1 trillion was erased from global stock markets following the Brexit vote

A record $2.1 trillion was wiped out from global markets on Friday.

That means more money vaporized as a result of the Brexit crash than any single market day ever, according to S&P Dow Jones Indices.

It eclipses the $1.9 trillion that was erased on September 29, 2008 when the U.S. Congress infamously voted down the Wall Street bailout. 

The larger losses in the Brexit fallout partially reflect the fact that markets are retreating from higher levels these days.

The Brexit pain deepened on Monday as the Dow slumped another 300 points and European stock markets shed 2% or more.

The dramatic market reaction is a reflection of the deep uncertainties caused by the U.K. referendum to leave the European Union, which completely caught investors off guard.

"Brexit is an immensely complicated problem with effects on the political, economic and financial environment," David Kelly, chief global strategist at JPMorgan Funds, wrote in a note on Monday.

All of this leaves investors asking: What next?.
Tags : ,

Share

Social

The idea behind the text.
Respect for the truth is almost the basis of all morality.
Nothing can come from nothing.



Follow

Popular Topics

Read

Well, the way they make shows is, they make one show. That show's called a pilot. Then they show that show to the people who make shows, and on the strength of that one show they decide if they're going to make more shows.

Like you, I used to think the world was this great place where everybody lived by the same standards I did, then some kid with a nail showed me I was living in his world, a world where chaos rules not order, a world where righteousness is not rewarded. That's Cesar's world, and if you're not willing to play by his rules, then you're gonna have to pay the price.

You think water moves fast? You should see ice. It moves like it has a mind. Like it knows it killed the world once and got a taste for murder. After the avalanche, it took us a week to climb out. Now, I don't know exactly when we turned on each other, but I know that seven of us survived the slide... and only five made it out. Now we took an oath, that I'm breaking now. We said we'd say it was the snow that killed the other two, but it wasn't. Nature is lethal but it doesn't hold a candle to man.

You see? It's curious. Ted did figure it out - time travel. And when we get back, we gonna tell everyone. How it's possible, how it's done, what the dangers are. But then why fifty years in the future when the spacecraft encounters a black hole does the computer call it an 'unknown entry event'? Why don't they know? If they don't know, that means we never told anyone. And if we never told anyone it means we never made it back. Hence we die down here. Just as a matter of deductive logic.