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?.
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Respect for the truth is almost the basis of all morality.
Nothing can come from nothing.

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