Premarket: World stocks head for historic slump on U.K. vote

[inanna]

Source: Reuters

LONDON — Reuters
Friday, Jun. 24, 2016 5:10AM EDT

World stocks headed for one the biggest slumps on record on Friday as a decision by Britain to leave the European Union triggered 8 per cent falls for Europe’s biggest bourses and a record plunge for sterling.

Such a body blow to global confidence could well prevent the Federal Reserve from raising interest rates as planned this year, and might even provoke a new round of emergency policy easing from all the major central banks.

<snip>

Billions were wiped from share values as Europe saw London’s FTSE drop 6 per cent in early deals, Germany’s and France’s CAC 40 slump 7.5 and 9 per cent and Italian and Spanish markets plunge more than 11 per cent.

The rout was compounded by the fact markets had rallied on Thursday having become increasingly convinced that UK voters would opt to stay in the EU.

Read more: http://www.theglobeandmail.com/globe-investor/inside-the-market/market-updates/premarket-world-stocks-head-for-historic-slump-on-uk-vote/article30604985/

[inanna]

1. Swiss Central Bank Says It Has Intervened in Currency Markets to Limit Franc's Rise After UK Vote

By The Associated Press
GENEVA — Jun 24, 2016, 5:33 AM E

Swiss central bank says it has intervened in currency markets to limit franc's rise after UK vote.

Link: http://abcnews.go.com/International/wireStory/swiss-central-bank-intervened-currency-markets-limit-francs-40098852

[OKNancy]

2. My prediction is in a month US stocks will regain any losses.

Seems that always happens.

I hope so. I'm one of those seniors who has a small Individual IRA in mutual funds.

[Algernon Moncrieff]

7. The Dow has been moving back and forth between 16 -18K

It will now head back to 16.

[inanna]

3. European Central Bank Says It Stands Ready to Provide More Credit to the Financial System

By The Associated Press
FRANKFURT, Germany — Jun 24, 2016, 5:29 AM ET

European Central Bank says it stands ready to provide more credit to the financial system.

Link: http://abcnews.go.com/International/wireStory/european-central-bank-stands-ready-provide-credit-financial-40098751

[bucolic_frolic]

4. Make Great Britain Great Again

Why did they decide to vote on this in the first place?

It's not like the country is not accustomed to firm resolve, unpopular measures,
a stiff upper lip and all that.

[Scientific]

5. Donald Trump, Republican Chump-in-Chief

... egged on Brexit and now applauds the quitters. Stands with a shit-eating grin and gold-plated golf putter in hand as the consequences unfold


?t=1720692958

[Fast Walker 52]

6. how much of the vote for the Brexit was because of Cameron's unpopularity

versus immigration versus economic factors?