New York -Stocks plunged in the U.S. and worldwide Friday after Britain voted to leave the European Union. The result stunned investors, who reacted by rushing to the safety of gold and U.S. government bonds as they wondered what will come next for Britain, Europe and the global economy.
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On Friday:
The Dow Jones industrial average plummeted 611.21 points, or 3.4 percent, to 17,399.86.
The Standard & Poor’s 500 skidded 76.02 points, or 3.6 percent, to 2,037.30.
The Nasdaq composite sank 202.06 points, or 4.1 percent, to 4,707.98.
For the week:
The Dow fell 275.30 points, or 1.6 percent.
The S&P 500 shed 33.92 points, or 1.6 percent.
The Nasdaq lost 92.36 points, or 1.9 percent.
For the year:
The Dow is down 25.17 points, or 0.1 percent.
The S&P 500 is down 6.64 points or 0.3 percent.
The Nasdaq is down 299.43 points, or 6 percent.
Why was this a surprise? They KNEW it would be close.
I guess the UK realized with 60% of their laws coming from the EU, they were losing their independence.
Good move!
This is only a small inkling of what a Trump Presidency would look like. Markets are plunging and Trump is boasting that he supported the leave campaign (even though he didn’t know what Brexit meant when asked a week ago). Truth is Trump couldn’t care less if the common folk with savings and retirement in the market lose out, as long as he gets visitors to his new golf course all is good.
To #2 - Most “common folk” don’t have a penny in the stock market. It is mainly the big shots, who can well afford to take losses, are seeing the value of their portfolios drop. However, I have zero sympathy, as many of those big shots, thumb their noses (as I’m sure that you do), at the poor slobs who live in substandard housing, and have to worry about having enolugh money for food, utilities, rent, and medicine. The value of stock portfolios, which they don’t have, or don’t know anything about, is the last thing on their minds.
TRUMP WILL WIN ON NOV. 8, 2016!!