National

US stocks plunge after UK votes to leave European Union

(Source: https://goo.gl/R5TB04 License: https://goo.gl/sZ7V7x)

NEW YORK (AP) — The latest on developments in global financial markets (all times local):

9:35 a.m.

U.S. stocks are plunging in early trading after Britons voted to leave the European Union.

The Dow Jones industrial average dropped 500 points, or 2.8 percent, to 17,515 in the first few minutes of trading Friday.

The Standard & Poor’s 500 index fell 57 points, or 2.7 percent, to 2,056x. The Nasdaq composite sank 158 points, or 3.2 percent, to 4,751.

It was the biggest drop for U.S. stocks since September.

European markets fell even more. France’s benchmark index lost 8 percent and Britain’s fell 4 percent.

The British pound plummeted to a 31-year low.

Bond prices rose sharply. The yield on the 10-year Treasury note dropped to 1.56 percent from 1.75 percent a day earlier, a huge move.

Related posts

Trump survives assassination attempt at rally, attendee and gunman killed

Tommie Lee

Political world reacts to assassination attempt of former President Donald Trump

Jon Zimney

AAA expects to rescue around 800,000 stranded motorists during holiday

95.3 MNC

Leave a Comment